Trump shortlists three candidates to succeed Powell at Fed

US President Donald Trump names three candidates to succeed Jerome Powell as chair of the Federal Reserve

US President Donald Trump has named three candidates to succeed Jerome Powell as chair of the Federal Reserve: Kevin Hassett, Director of the White House National Economic Council; former Fed governor Kevin Warsh; and current Fed governor Christopher Waller.

Trump said the three are the final contenders for the post, adding that Treasury Secretary Scott Bessent was not interested.

He said he intends to appoint someone more aligned with his push for rapid interest rate cuts, criticizing Powell for acting too slowly on borrowing costs and for hurting homebuyers with high mortgage rates.

Hassett is one of Trump’s strongest defenders on trade policy and argues interest rates are unjustifiably high. Warsh, known for repeatedly calling for reform at the Fed, represents a more radical option that could pave the way for a sweeping overhaul of monetary policy. Waller, by contrast, is seen as a more cautious institutional choice that could provide markets with greater stability.