Potential Fed Leadership Shakeup: Waller Emerges as Contender

Federal Reserve Governor Christopher Waller has emerged as a leading candidate for the position of central bank chair, as reported by Bloomberg News. Though he hasn't met with President Trump, Waller has garnered support from the president's team. A Federal Reserve spokesperson offered no comments on the matter.

White House spokesperson Kush Desai stated that President Trump will continue nominating experienced individuals aligned with his economic goals. While there is speculation about Waller's candidacy, it remains unconfirmed by the president. Trump's dissatisfaction with Fed Chair Jerome Powell's interest rate decisions has sparked a search for a new chair.

Waller, a PhD economist known for advocating Fed independence, could potentially mitigate concerns over political influence. He argued for an interest rate cut to counteract a slowing labor market, opposing linkage to Treasury goals. Other candidates considered include Kevin Hassett and Kevin Warsh.

(With inputs from agencies.)