Stocks pared gains in the early morning session after Bloomberg reported Federal Reserve Governor Christopher Waller is “emerging as a top candidate” to serve as the central bank’s next chair.
Bloomberg reports:
Federal Reserve Governor Christopher Waller is emerging as a top candidate to serve as the central bank’s chair among President Donald Trump’s advisers as they look for a replacement for Jerome Powell, according to people familiar with the matter.
Trump advisers are impressed with Waller’s willingness to move on policy based on forecasting, rather than current data, and his deep knowledge of the Fed system as a whole, the people said. Waller has met with the president’s team about the role, but has yet to meet with Trump himself, the people said on the condition of anonymity to discuss private deliberations.
Kevin Warsh, a former Fed official, and Kevin Hassett, currently Trump’s National Economic Council director, also remain in contention for the job, the people said, which will open up when Powell’s tenure as chair expires in May 2026.