U.S. President Trump confirms replacement of Federal Reserve Chairman Powell’s first choice, including Hassett, Vash, Waller
According to Hill, U.S. President Donald Trump confirmed his lead option to replace current U.S. Federal Reserve Chairman Jerome Powell and named his three close aides as the first choice for the position. According to Mount, Trump on Friday has confirmed the names of Kevin Hassett, Kevin Warsh and Christopher Waller as his leading choice to replace Jerome Powell, which will end in May 2026.
When Trump was asked if Hassett, who led the White House National Economic Commission; Warsh, former federal government; Waller, an economist and current Fed board member, was his best choice for the position, he replied: “Yes, I can say that’s the top three. Good job.”
Trump has informed him of plans to replace Powell, which will end next May. However, his term as part of the Federal Commission will end in January 2028.
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According to Hill, the U.S. president has been criticizing Powell for not lowering interest rates and preparing his allies for the possibility of evacuating him.
In addition, Trump has taken action to dismiss federal board member Lisa Cook, which will lead him to nominate another loyalist. Cook resisted these efforts.
Trump also said Treasury Secretary Scott Bessent is no longer considered in the Fed chair position because Best is happy with his current role, Hill reported.
Powell earlier said the U.S. job market is in such a shaky attitude that the Fed may soon need to lower interest rates to support the economy.
In one of his most resultant speeches, Powell said the labor market could benefit from lower interest rates, with the Fed remaining unchanged for eight consecutive months.
These three names Trump calls on the Fed’s chairman have attracted a lot of eyebrows because the Fed is known for making itself independent of any political influence.
