Archive · 28 Jan 2026
Trump struggles to find ideal Fed chair
President Trump is trying to pick a new leader for the Federal Reserve, but he's having a hard time finding someone who fits what he wants.
He wants someone who will lower interest rates but also be respected by Wall Street.
There are four people he's considering: Kevin Warsh, Christopher Waller, Rick Rieder, and Kevin Hassett.
Each has different strengths and weaknesses.
Trump is worried that once someone is chosen, they might not do what he wants.
He has said that anyone who disagrees with him won't be chosen.
The current Fed leader, Jerome Powell, will finish his term in May.
Trump has been criticizing Powell for not lowering interest rates enough.
The Fed is expected to keep interest rates the same for now.
Trump's top economic adviser is Kevin Hassett, but picking him might raise questions about the Fed's independence.
Rick Rieder is another option, but he has donated to Trump's political rivals.
There's no rush to make a decision, as there's still time before Powell's term ends.
President Trump is considering four finalists to replace Jerome Powell as Fed Chair: Kevin Warsh, Christopher Waller, Rick Rieder, and Kevin Hassett.
Trump wants a Fed Chair who will lower interest rates but also be respected by Wall Street.
Trump is concerned that nominees might assert independence after confirmation.
Powell's term expires in May 2024, with no urgent need for an announcement before then.
Each finalist represents different trade-offs between Trump's demands for lower interest rates and maintaining credibility.
- Who
- President Trump and his administration are considering four finalists to replace Jerome Powell as Fed Chair.
- What
- Trump is struggling to find a candidate who meets his requirements for lower interest rates and credibility.
- When
- Powell's term expires in May 2024, with no urgent need for an announcement before then.
- Where
- The search is being managed by Treasury Secretary Scott Bessent.
- Why
- Trump wants a Fed Chair who will pursue his economic agenda while maintaining credibility on Wall Street.
Trump's Perspective
Fed's Perspective
Interest Rates
Trump's Perspective
Trump wants lower interest rates to stimulate the economy.
Fed's Perspective
The Fed may prioritize economic stability and independence over political demands.
Fed Independence
Trump's Perspective
Trump is concerned about nominees who may assert independence after confirmation.
Fed's Perspective
The Fed values its independence to make decisions based on economic data and long-term stability.
- Finalists
- Kevin Warsh, Christopher Waller, Rick Rieder, Kevin Hassett
- Current Fed Chair
- Jerome Powell
- Powell's Term Expiry
- May 2024
- Trump's Concern
- Nominees changing stance post-confirmation
- Trump's Economic Adviser
- Kevin Hassett
- Fed Meeting Decision
- Expected to hold interest rates steady
- Trump's Economic Priority
- Housing affordability
- Rieder's Political Donations
- Pete Buttigieg (2020), Nikki Haley (2023)