Trump Confirms Fed Finalists

President Donald Trump on Friday confirmed National Economic Council Director Kevin Hassett, Fed Governor Christopher Waller, and former Fed Governor Kevin Warsh are finalists to succeed Jerome Powell as Federal Reserve Chair. Treasury Secretary Scott Bessent reiterated that he does not want to be considered for the position. Hassett previously chaired the Council of Economic Advisers and favors lower rates. Waller, a former St. Louis Fed research director, supports proactive rate cuts, while Warsh is more hawkish on inflation but backs easing rates during downturns. Friday’s jobs report showed the economy added just 22,000 positions in August, far below expectations, increasing speculation that the Fed could cut interest rates at its September 16–17 meeting.