Waller's Willingness: A Potential Fed Chair Contender
Federal Reserve governor Chris Waller expressed his willingness to serve as Fed chair if asked by President Trump. This comes as Trump frequently criticizes current Fed chair Jerome Powell. Waller favors a rate cut, citing a slowing economy and minor inflation impact from tariffs.
Federal Reserve governor Chris Waller has announced his readiness to serve as the Fed chair, should President Donald Trump extend the offer, though no such proposal has been made. Recalling a previous interaction in 2019, Waller stated he would accept the role if initiated by the president.
His statement surfaces as President Trump consistently criticizes the current Fed chair, Jerome Powell, for his hesitance in slashing interest rates. Trump argues that the Fed's caution over his trade and tariff strategies might spike inflation. Contrary to Powell's conservatism, Waller supports a rate cut, believing tariffs will not significantly affect inflation.
Despite low unemployment rates, Waller expresses concerns about the economy and employment. He warns that the underlying data do not portray a robust labor market, urging the Fed to take preventative measures against a potential hiring slowdown.
(With inputs from agencies.)
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