Trump Narrows Down Federal Reserve Chair Candidates to Four

US President Donald Trump has announced that he has reduced his list of potential Federal Reserve chair candidates to four, as he considers a successor to Jerome Powell. The choice could have significant implications for the US economy. Trump has been critical of current Fed Chair Powell, who has come under pressure to cut interest rates.

Key Takeaways:

• Trump has narrowed down his list of potential Federal Reserve chair candidates to four, with Kevin Hassett and Kevin Warsh being named as two of the top contenders.
• Trump has been critical of current Fed Chair Powell, whom he has dubbed "too late" in cutting interest rates.
• The President has put pressure on Powell to cut interest rates, but has also been reluctant to fire him due to a Supreme Court ruling that suggested he could only do so for cause rather than out of policy disagreements.
• Hassett, director of the White House National Economic Council, has been supportive of Trump's agenda, including income tax cuts and tariffs.
• Warsh, a former Fed governor, has been supportive of cutting interest rates, a key goal of Trump's.

Statistics:

• $2.5 billion: The estimated cost of the Fed's renovation project, which Trump has claimed was mismanaged by Powell.
• 2026: The year in which Powell's term as Fed Chair is set to end.
• 2011: The year in which Warsh stepped down as a Fed governor.

Sources:

• Associated Press Washington
• CNBC's Squawk Box
• Hoover Institution (Kevin Warsh's affiliation)
• Erika McEntarfer (former BLS commissioner)