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yesterday

Waller Registers 'Strong' Interview as Trump Narrows Fed Chair Shortlist to Four

A final interview with BlackRock’s Rick Rieder is set for late December, with a pick expected after the holidays.

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The next chair of the Federal Reserve Board will be tasked with leading its Board of Governors and the presidents of its 12 regional banks -- including the Federal Reserve Bank of San Francisco, shown here -- in setting monetary policy. Some say it's a 'no-win' job.
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Overview

  • Senior officials say Trump and Fed Governor Christopher Waller discussed the labor market and job creation in a meeting described as a "strong" interview.
  • The remaining contenders are Waller, National Economic Council Director Kevin Hassett, former Fed Governor Kevin Warsh, and BlackRock fixed‑income chief Rick Rieder.
  • Rieder is slated to meet Trump at Mar‑a‑Lago in the last week of the year, and Fed Governor Michelle Bowman is no longer under consideration.
  • Trump says he will announce his choice soon and wants a chair who favors much lower interest rates; he has said the chair should consult him on rate decisions.
  • Prediction markets still favor Hassett, with lower odds for Warsh and Waller, as investors track each candidate’s stance on the pace of potential rate cuts.