Overview
- Trump identified Kevin Hassett, Christopher Waller and Kevin Warsh as finalists to succeed Jerome Powell, with Treasury Secretary Scott Bessent running the search after removing himself from consideration.
- A CBS News/YouGov poll found 68% of Americans want the Federal Reserve to make decisions independently from the president, though most Republicans favor presidential guidance.
- Citadel CEO Ken Griffin and economist Anil Kashyap cautioned in a Wall Street Journal op‑ed that pressure on the Fed and threats to dismiss governors risk eroding credibility and lifting long‑term rates.
- Legal fights continue as nominee Stephen Miran proposed serving on leave from the White House if confirmed to the Fed Board, and Governor Lisa Cook sued to block her removal.
- Investors see a rate cut at the Sept. 16–17 Fed meeting as highly likely after a weak August jobs report, following Powell’s late‑August signal that labor‑market risks have grown.