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Donald Trump, from inside the White House, said Wednesday that he’s already trimmed his Fed chair shortlist down to “three or four” people. At the same time, the US Treasury confirmed 11 candidates will still go through formal interviews. According to the Financial Times, those interviews will be led by Scott Bessent, who currently serves as Treasury Secretary. Trump also said he might announce a preferred successor before Jay Powell’s term ends in May 2026. Trump didn’t name names during his statement, but three contenders keep coming up: Kevin Hassett, who runs the National Economic Council; Kevin Warsh, a former Fed governor; and Christopher Waller, who is currently sitting on the Fed board. Trump described them only as “great” candidates. Meanwhile, Scott is preparing to interview eight more names that few see as serious contenders. Trump rages at Powell and demands immediate rate cuts Trump also went off on Powell again, calling him a “moron” and a “numbskull” during his Wednesday comments. He repeated that Powell’s refusal to cut interest rates has hurt the economy. Trump said he plans to make a decision on Powell’s replacement “a little bit early” and wants interest rates slashed all the way down to 1%. The current rate stands between 4.25% and 4.5%. The president blames Powell for stalling cuts that began in 2024, saying the trade war made things worse. Powell had argued back then that more cuts could lead to rising prices, especially with tariffs still hitting imports. But July’s lower inflation reading and weak job numbers have brought new pressure. Trump’s administration, including Scott, now wants a 0.5 percentage point cut at the next Fed meeting in September. Other names on the interview list include David Zervos, chief market strategist at Jefferies; Larry Lindsey, former Fed governor and ex-NEC chair; and…

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Filed under: News - @ August 13, 2025 8:29 pm