President Donald Trump said he is considering Kevin Warsh and Kevin Hassett as the top contenders to become the next Federal Reserve Chair, signaling a desire for closer coordination between the White House and the central bank on interest rate policy.
In an interview with The Wall Street Journal from the Oval Office, Trump said the next Fed chair should consult with him on rate decisions, emphasising his view that interest rates should be much lower. “I want rates at 1% or lower a year from now,” he told the Journal, arguing that the United States should have “the lowest interest rate in the world.”
Trump praised both candidates, calling them “great people,” and said he was leaning toward one of the two Kevins — Warsh, a former Fed governor known for his market background, and Hassett, who currently serves as Director of the National Economic Council and previously chaired Trump’s Council of Economic Advisers.
The president’s remarks come just days after the Fed delivered another quarter-point rate cut, followed by comments from Chair Jerome Powell suggesting a potential pause in further easing. Trump, however, has repeatedly criticized the Fed for keeping borrowing costs too high, arguing that lower rates would fuel economic growth and keep the US ahead of global competitors.
The final decision on Powell’s successor is expected early next year, with Trump signaling he will conduct final interviews “in the coming days.”
If appointed, either Warsh or Hassett would inherit a divided Fed navigating slower growth, persistent inflation pressures, and political expectations for deeper rate cuts.
Related: Trump Says Next Fed Chair Must Cut Rates Immediately
