President Donald Trump Thursday praised Federal Reserve Governor Christopher Waller as “great” after interviewing him as a candidate to succeed Jerome Powell as Fed chair, part of a fast-moving selection process for the central bank’s top job. Trump said three or four finalists remain under consideration.
The interview pn Wednesday comes as Trump steers the Fed toward a more dovish policy stance, insisting his next chair be strongly supportive of lower interest rates — a point he emphasized in a national address Thursday saying the future Fed chair should believe in cutting rates “by a lot.”
Waller has positioned himself as a candidate who could align with that direction: he’s publicly argued that U.S. interest rates are still too high for a slowing job market and should be reduced further, sometimes by as much as a full percentage point, citing subdued inflation risks.
At a Yale summit Wednesday, Waller also underscored that he would “absolutely” defend the Federal Reserve’s independence even while maintaining regular communication with the White House, a message aimed at calming concerns about political pressure on central bank policymaking.
The chair race has drawn other prominent contenders, including Trump economic adviser Kevin Hassett and former Fed governor Kevin Warsh. Hassett recently touted lower-than-expected inflation as supporting potential rate cuts, while also calling for greater Fed transparency.
Trump’s decision — expected as early as January — comes amid broader debate over how quickly the Fed should reduce borrowing costs after three consecutive rate cuts in 2025, with markets watching closely for signals on inflation, jobs and economic growth heading into 2026.
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