Trump Confirms Finalists for Fed Chair: Hassett, Waller, and Warsh

President Trump in August. (chip somodevilla/Getty Images)

President Donald Trump confirmed on Friday that National Economic Council director Kevin Hassett, Federal Reserve governor Christopher Waller, and former Fed governor Kevin Warsh are among the finalists to be appointed Fed chair after Jerome Powell.

When a reporter at the White House asked if the three men are the final candidates, Trump confirmed they were. “I would say those are the top three. Good job,” he said.

During the press appearance, Treasury Secretary Scott Bessent also again confirmed he didn’t want to be a candidate when Trump asked him to speak about his interest in the Fed chair position.

Hassett was chair of the Council of Economic Advisers during Trump’s first term, and has pushed for lower interest rates.

Waller was formerly the research director at the St. Louis Fed. Trump appointed him to the Board of Governors in 2020. Waller has also supported proactive interest rate cuts as employment risks rise.

Warsh has had a more hawkish stance on inflation risks, but supports easing rates in downturns.

Trump nominated Powell to serve as Fed chair during his first presidential term. Though Trump has since criticized Powell —and at times has suggested the Fed chair should resign—Powell has maintained that he will complete his term, which will expire in May 2026.

On Friday, the Bureau of Labor Statistics released a jobs report that missed expectations, with 22,000 jobs added in August versus the 76,500 consensus—making it more likely the Fed will cut interest rates as soon as September.

The Fed’s policymaking arm will next meet on Sept. 16-17.

—Nicole Goodkind contributed to this article.

Write to Tae Kim at tae.kim@barrons.com