🇺🇸 President Donald Trump is publicly narrowing his choice for the next Federal Reserve Chair — the central bank’s top position — and has identified his top two contenders:
✅ Kevin Warsh (former Federal Reserve governor)
✅ Kevin Hassett (Director of the White House National Economic Council)
➡️ Trump said he’s considering both Warsh and Hassett and that the next Fed chair should consult with him on interest rate decisions, a break from the usual Fed independence tradition.
📍 Why it matters:
• The Federal Reserve sets U.S. monetary policy — including interest rates — which influences global financial markets, borrowing costs, inflation trends, and risk assets.
• Trump has criticized current Fed Chair Jerome Powell for not cutting rates fast enough and clearly wants a successor aligned with his economic strategy.
📊 Context • Kevin Hassett has been seen as a front-runner due to his role as Trump’s senior economic adviser, though some economists worry he could compromise Fed independence.
• Kevin Warsh — a former Fed governor — has gained momentum recently, with markets taking note of his support for lower interest rates and strong technical policy experience.