On Thursday, one of Wall Street's most powerful bankers, JPMorgan CEO Jamie Dimon, candidly stated that Warsh would be a 'great chairman' and warned that another popular candidate, Kevin Hassett, might be more compliant with the White House's willingness to cut interest rates. However, this could trigger a market backlash, leading to an increase in long-term borrowing costs and undermining the crucial independence of the Federal Reserve.

On Friday, Trump confirmed to The Wall Street Journal that Warsh and Hassett are the current frontrunners:

Kevin Hassett: The number one favorite in predicting the markets. As a former insider in the White House, he openly supports Trump's calls for aggressive rate cuts—even suggesting that the cuts should be double the current level. Although he has recently attempted to argue that he would maintain central bank independence, the 'executor' label attached to him is difficult to shed in the eyes of Wall Street.

Kevin Warsh: Former Federal Reserve Governor, economist at the Hoover Institution. Although he has become unpopular within the Federal Reserve due to frequent criticisms after leaving office, and was viewed by some as 'overly hawkish' for his excessive concerns about inflation just before the collapse of Lehman Brothers in 2008, he has received endorsements from Wall Street bigwigs like Dimon.