Trump admin expands Fed chair search to three more candidates

According to Bloomberg News, both Federal Reserve vice chairs, Michelle Bowman and Philip Jefferson, along with Dallas Fed President Lorie Logan, are being considered to be the next chair of the central bank by the Treasury Secretary Scott Bessent. This search for a successor to Fed Chair Jerome Powell, whom President Trump has been urging to cut rates, has been ongoing.

Other candidates previously known to be on Bessent’s list include National Economic Council director Kevin Hassett, former Fed Governor Kevin Warsh, and current Fed Governor Christopher Waller. The list has recently been expanded to also include St. Louis Fed President James Bullard and Marc Sumerlin, a former economic adviser to President George W. Bush.

Hassett, Warsh, Waller, and Bowman have expressed support for lower rates, with Waller and Bowman dissenting in July against the Fed’s decision to leave rates unchanged.

In contrast, Logan has consistently taken a more hawkish stance, expressing skepticism about lowering interest rates while inflation remains high. Jefferson, on the other hand, has not shown any differences in policy views compared to Powell.