President Trump has interviewed Federal Reserve Governor Christopher Waller as part of the selection process for the next Fed Chair, focusing the search on a shortlist of four candidates. The meeting, held at the White House, reportedly centered on the labor market and job creation strategies, according to senior administration officials. Treasury Secretary Scott Bessent, White House Chief of Staff Susie Wiles, and Deputy Chief of Staff Dan Scavino also attended.
While Waller’s interview received a positive evaluation, it does not necessarily position him as the frontrunner for the position. The administration’s ongoing candidate list includes Waller, National Economic Council Director Kevin Hassett, former Federal Reserve Governor Kevin Warsh, and BlackRock’s Rick Rieder, who is scheduled for an interview soon. Fed Governor Michelle Bowman has been removed from consideration.
The conversations with candidates are described as being comprehensive, touching on a range of economic topics rather than solely focusing on interest rate decisions. This approach contrasts Trump’s earlier comments suggesting that the next Fed Chair should align with his perspective on interest rates. Trump indicated in a recent statement that while he does not expect the chair to follow his directives blindly, he believes his experience warrants consideration.
In the aftermath of his discussions, Trump praised Waller, highlighting his long-standing involvement with the Federal Reserve. In a speech, Trump indicated an intention to soon announce the new chair, who he expects will advocate for significantly lower interest rates. Waller has expressed support for reduced interest rates, anticipating a potential drop of 50 to 100 basis points and noting concerns over recent labor market weaknesses.
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