US President Donald Trump has narrowed down his list of potential Federal Reserve chair candidates to four, including Kevin Hassett and Kevin Warsh, in a move that could significantly impact the US economy. The decision comes as Trump has been critical of current Fed Chairman Jerome Powell’s efforts to cut interest rates.
Trump named Hassett, director of the National Economic Council, and Warsh, a former member of the Federal Reserve Board of Governors, as his top contenders for the position. While two other candidates are under consideration, Treasury Secretary Scott Bessent is not among them.
Hassett has been a strong supporter of Trump’s economic agenda, including tax cuts and tariffs. He previously served as chairman of the Council of Economic Advisers during the first Trump administration.
Warsh, on the other hand, has called for sweeping changes to the Federal Reserve’s business practices and has criticized Powell’s handling of interest rates. Trump recently praised Warsh, saying he is “highly thought of” by him.
The Fed’s governor, Adriana Kugler, announced her departure last week, creating an opening for a new candidate. Trump sees this as an opportunity to name both a new Fed governor and a new chair.
The Federal Reserve’s path could be significantly altered with a new chairman at the helm. The next chair will have the power to shape interest rates and influence the overall direction of the US economy.
Source: https://www.pbs.org/newshour/politics/what-we-know-about-trumps-fed-chair-candidates-so-far