Trump signals he has a favorite for Fed chair: 'Down to maybe one, in my mind'

Core Viewpoint - President Trump is close to finalizing a candidate to replace Federal Reserve Chair Jerome Powell, indicating a significant shift in leadership at the Federal Reserve [1][4]. Candidate Selection - The search for a new Fed Chair has narrowed from 11 candidates to potentially one, with Trump suggesting he has a preferred candidate in mind [2]. - Finalists for the position include Former Fed Governor Kevin Warsh, current Governor Christopher Waller, National Economic Council chief Kevin Hassett, and BlackRock's Rick Rieder, with Rieder receiving particular praise from Trump [3]. Current Fed Chair Situation - Trump's preference for Hassett to remain at the National Economic Council likely removes him from consideration for the Fed Chair position [4]. - Treasury Secretary Scott Bessent led the interview process, although Trump has previously indicated support for Bessent to take the Fed job, he noted Bessent prefers to stay in his current role [4]. Powell's Future - With Powell's removal as chair appearing imminent, questions arise regarding whether he will remain in his role as governor for another two years, which would allow him to influence monetary policy and interest rates [6]. - Trump expressed indifference about Powell's decision to stay or leave, suggesting that Powell's tenure has not been satisfactory [6][7]. Criticism of Powell - Trump has been critical of Powell's management, particularly regarding a renovation project at the Fed headquarters that has exceeded $2.5 billion, claiming he could have completed it for $25 million [7].