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Azerbaijani president in Washington: Live updates

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Trump team circles Christopher Waller as potential Fed chair pick

08 August 2025 09:55

Federal Reserve Governor Christopher Waller is increasingly seen as the frontrunner to succeed Jerome Powell as Chair of the Federal Reserve, according to sources familiar with the Trump administration’s internal deliberations, quoted by Bloomberg News.

Advisers to President Donald Trump have reportedly been impressed by Waller’s forward-looking approach to monetary policy, favouring forecasts over current data, as well as his deep institutional knowledge of the Federal Reserve system.

While Waller has already held discussions with members of Trump’s team regarding the role, he has not yet met directly with the president, the sources said, speaking on condition of anonymity due to the private nature of the talks.

Other names still under consideration include former Fed official Kevin Warsh and Kevin Hassett, the current director of the National Economic Council. Powell’s current term as chair ends in May 2026, and Trump is expected to make a nomination well ahead of that deadline.

“President Trump will continue to nominate the most competent and experienced individuals,” said White House spokesman Kush Desai in a statement. “Unless it comes from President Trump himself, however, any discussion about personnel decisions should be regarded as pure speculation.”

Waller’s performance during his tenure on the Fed board has drawn praise from key administration figures. “I think that Governor Waller has really built up a really impressive track record in the last two years at the Fed with his predictions about inflation, and with his predictions about where Fed policy needed to move to respond to that inflation,” said Stephen Miran, Chair of the White House Council of Economic Advisers, in an interview with Bloomberg Television on Thursday.

Trump confirmed on Wednesday that the list of candidates for the top Fed position has been narrowed to three. He also noted that the search committee includes Treasury Secretary Scott Bessent, Vice President JD Vance, and Commerce Secretary Howard Lutnick.

Kevin Hassett has already met directly with Trump to discuss the position and is reported to have left a strong impression on both the president and his team, according to previous reporting by Bloomberg News. Warsh, who interviewed for the Fed chair role in 2017 but was ultimately passed over in favour of Powell, was also considered last November for the Treasury Secretary post.

The search for Powell’s replacement comes alongside efforts to fill a soon-to-be vacant seat on the Fed Board, following the early departure of Governor Adriana Kugler. Trump has said he plans to appoint a temporary governor to serve a short-term stint before naming a full-time appointee to a 14-year term beginning in early 2026. That longer-term nominee is expected to align with Trump’s preference for lower interest rates.

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