Overview

• Trump identified Kevin Hassett, Christopher Waller and Kevin Warsh as the leading candidates to replace Jerome Powell, with Treasury Secretary Scott Bessent saying he does not want the job.
• Separately, Bessent called for a comprehensive, independent review of the Federal Reserve’s policy, communications, personnel and research in a Wall Street Journal op-ed.
• Stephen Miran told the Senate Banking Committee he would act independently and said the president has a right to voice views on monetary policy, drawing skepticism from Democrats.
• Miran argued tariffs have not materially raised inflation and said the central bank should avoid taking on issues outside its mandate, such as climate policy.
• If confirmed, Miran plans to take unpaid leave from the White House Council of Economic Advisers, serve out Adriana Kugler’s term through January 2026 and potentially join the Sept. 16–17 rate-setting meeting.