Christopher Waller Emerges as Leading Candidate for Next Fed Chair... 'Two Kevins' Also in Final Race

Bloomberg Reports
"Waller Met with Trump Team Regarding Next Fed Chair Position"

Christopher Waller, a member of the U.S. Federal Reserve Board, is emerging as a leading candidate for the next Fed Chair, Bloomberg reported on the 7th (local time).

Christopher Waller Federal Reserve Board member AP Yonhap News

Bloomberg, citing multiple sources, reported that President Donald Trump's aides recently met with Waller and highly valued his willingness to pursue policy based on forecasts rather than current economic indicators, as well as his deep understanding of the entire Federal Reserve system.

President Trump is expected to nominate a successor within a few days for Adriana Kugler, the Fed Board member who recently resigned early. There is speculation that the new appointee could succeed Jerome Powell, whose term as Fed Chair ends in May 2026.

The report noted, "Waller met with the Trump team regarding this role," but added, "He has not yet met President Trump directly."

Waller, who was previously known as one of the leading 'hawks' (those favoring monetary tightening) within the Fed, has been advocating for interest rate cuts since President Trump took office in January. This contrasts with Jerome Powell, the current Fed Chair, who has repeatedly resisted President Trump's calls for rate cuts and has kept rates unchanged out of concern for tariff-driven inflation.

At last month's Federal Open Market Committee (FOMC) regular meeting, Waller voted against the decision to hold rates steady and, along with Fed Vice Chair Michelle Bowman, called for a 0.25 percentage point rate cut. This was the first time in 32 years that multiple dissenting votes were cast against the majority rate decision at an FOMC meeting. Vice Chair Bowman, who was also previously classified as a hawk, was recently appointed to her position directly by President Trump.

Bloomberg also reported that former Fed Board member Kevin Warsh and National Economic Council (NEC) Chairman Kevin Hassett are also competing for the Fed Chair position. Previously, on the 5th, President Trump commented, "Both Kevins are very outstanding." In particular, Chairman Hassett reportedly met with President Trump to discuss the Fed Chair role and made a strong impression on both the President and his aides.

As President Trump announced the previous day that the shortlist for Fed Chair candidates had been narrowed to three, Treasury Secretary Scott Besant, Vice President JD Vance, and Commerce Secretary Howard Lutnick are involved in the selection process for the next Fed Chair.