According to a recent report from the Wall Street Journal, President Trump will conduct an interview with the Governor of the Federal Reserve Christopher Waller Wednesday as part of the search for a successor.
Powell’s term ends in May 2026, ending an eight-year tenure in which he faced significant challenges ranging from the pandemic-era recession to the sharpest rise in inflation in four decades.
The disagreements between President Trump and the chairman have been more than just public this year, which likely influenced the president’s decision to choose a new chairman.
The disagreements mainly focused on monetary policy, with Trump repeatedly criticizing Powell for keeping interest rates higher than he considers necessary to stimulate growth. While Powell emphasized the importance of a cautious Fed, Trump repeatedly pushed for deeper, faster rate cuts.
Fed Waller in the race
The WSJ reported today that Christopher Waller is one of the likely candidates to take on the role. The US president will interview Waller on Wednesday, adding him to a shortlist that already includes former Fed Governor Kevin Warsh and National Economic Council Director Kevin Hassett.
Waller meets the demand for a more ‘forgiving’ chairman. While the commission had only begun cutting rates in September, Christopher Waller had Push for interest rate cuts as early as July.
That said, Waller is still not the favorite to become the next Fed chairman. According to the prediction market Polymarket, the platform still favors former Trump economic adviser Kevin Hassett to take on the role in 2026.
Still, Waller’s inclusion on the shortlist underlines Trump’s determination to overhaul the Fed in line with his preference for aggressive rate cuts and looser monetary policy, a shift that could mark a sharp departure from Powell’s cautious approach.
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