Trump’s Federal Reserve Chair Bet: Weighing Political Pressure Against Economic Trustworthiness

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Trump’s Federal Reserve Chair Bet: Weighing Political Pressure Against Economic Trustworthiness

Bitget-RWA2025/11/18 23:56

By:Bitget-RWA

- Trump announced selecting a Fed chair candidate but withheld the name, criticizing Powell's cautious rate-cutting approach amid economic slowdown. - Contenders include Waller, Bowman, and Rieder, with Bessent leading the search to balance political strategy and economic priorities. - Legal hurdles delay Powell's replacement until 2026, while Miran's potential FOMC role aligns with Trump's push for aggressive rate cuts. - Lisa Cook faces mortgage fraud allegations, and Rieder's non-academic background cha

On Tuesday, President Donald Trump revealed that he has chosen a potential successor for the Federal Reserve chair, highlighting his growing impatience with the slow process of replacing current chair Jerome Powell

as reported by sources

. "I believe I have my pick," Trump stated to journalists in the Oval Office, though he withheld the name. The president has consistently voiced his dissatisfaction with Powell, criticizing what he perceives as an excessively cautious stance on reducing interest rates—a criticism that

has grown stronger

as the Fed faces increasing calls to address a weakening economy.

The search, overseen by Treasury Secretary Scott Bessent, has been narrowed to a group that includes both expected and surprising names. Those reportedly being considered include current Fed Governors Christopher Waller and Michelle Bowman, former Governor Kevin Warsh, White House National Economic Council Director Kevin Hassett, and BlackRock Inc. executive Rick Rieder

as reported by sources

. Trump suggested he is weighing both political and economic considerations, commenting, "We might go with the usual choice. Sometimes it’s good to take the politically correct route."

Bessent is anticipated to present his final recommendations

following the Thanksgiving break.

The urgency to find a replacement is driven by Powell’s term as chair ending in May 2026, though he could remain a Fed governor until 2028

as reported by sources

. Trump’s push to accelerate Powell’s departure has met with internal opposition,

with legal and procedural obstacles slowing

the process. The president has also shown interest in Bessent taking the Fed position, but the Treasury secretary has chosen to stay in his current role

as reported by sources

The Fed’s leadership is already undergoing changes, as Stephen Miran is set to replace Adriana Kugler, who

stepped down amid an ethics investigation

. Miran, who is currently on unpaid leave from the White House Council of Economic Advisers, could participate in the Federal Open Market Committee’s September session if confirmed soon

as reported by sources

. His potential impact on rate policy matches the administration’s desire for more decisive rate reductions, especially as jobless claims reach their highest level in four years and labor market indicators weaken

as reported by sources

Trump’s Federal Reserve Chair Bet: Weighing Political Pressure Against Economic Trustworthiness image 0

At the same time, ongoing legal disputes over Fed leadership add further complications. The Trump administration is attempting to oust Governor Lisa Cook through an emergency court filing,

alleging she committed mortgage fraud

involving properties in Atlanta and Michigan. Cook has rejected the allegations, referencing documents that list one property as a "vacation home" and emphasizing she has not claimed it as her main residence for tax reasons

as reported by sources

Choosing the next Fed chair will require carefully balancing Trump’s demand for rapid rate reductions with the need to maintain investor confidence. Rieder, who stands out as an unconventional candidate without a doctorate in economics, has become a prominent option in the selection process.

His support for prompt policy action is in line

with Trump’s public statements, though his selection would break with the Fed’s tradition of academic credentials.

As the administration moves toward a final decision, the ongoing reshuffling at the Fed highlights the broader tension between political influence and economic stability. With the September interest rate decision approaching, the central bank’s upcoming actions will challenge its ability to balance Trump’s goals with the realities of a softening job market and inflationary pressures

as reported by sources

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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