Who Will Lead the Fed? Trump Narrows Down Choices
President Donald Trump has indicated that he may have already chosen a candidate to lead the Federal Reserve. Initially considering three individuals, he has now narrowed it down to one or two potential candidates.
Trump Praises Kevin Hassett
Trump expressed his admiration for Kevin Hassett, his economic advisor, and suggested he might keep him in his current role. He commended Hassett for his strong performance on TV.
Top Candidates for Fed Chair
The three individuals Trump considered for the position include:
- Rick Rieder (BlackRock)
- Christopher Waller
- Kevin Warsh
Trump noted that all three were strong candidates but mentioned that Rieder made a particularly strong impression during his interview.
Criticism of Current Fed Chair Jerome Powell
Trump has been vocal about his disapproval of Jerome Powell, the current Fed chair. He believes Powell waited too long to lower interest rates and did not lead the Fed effectively.
Trump also expressed his preference for a Fed chair like Alan Greenspan, who served for an extended period. He argued that strong economic growth does not always necessitate higher interest rates.
Former Finance Officials Speak Out
Greenspan and other former finance officials have criticized the Trump administration's investigation into Powell. They emphasized that the Fed should make decisions based on what is best for the public, not the president's preferences.
Powell's Future Uncertain
Powell was initially nominated by Trump in 2017 and later reappointed by President Joe Biden. Trump hinted that Powell's life might not be very happy if he chooses to stay until 2028, when his term ends. Powell has not yet announced his plans.
