Who to watch in the upcoming Fed meeting

Group 1 - The race for the next Federal Reserve chair is nearing its conclusion, with Treasury Secretary Scott Bessant indicating that President Trump may announce his choice soon, and BlackRock's Rick Reer has seen a rise in his odds of being selected [1][2] - Candidates for the position include former Fed Governor Kevin Worsh, current Fed Governor Christopher Waller, and National Economic Council Director Kevin Hasset, with Waller facing a critical decision at the upcoming FOMC meeting [2][3] - Waller's vote at the FOMC meeting is crucial; he can either align with President Trump's preference for lower rates or maintain his independence by voting to hold rates steady, which could impact his candidacy [4][6] Group 2 - The President seeks a candidate who is loyal and aligns with his views, expressing concerns about appointing someone who may not adhere to his preferences once in office [8][9] - The candidates with closer ties to Trump, Worsh and Hasset, are seen as more favorable due to their established relationships, while Waller and Reer are viewed as outsiders [9][10] - Recent economic data, such as durable goods orders, shows positive trends, but the Fed's willingness to cut rates again will depend on inflation progress or significant labor market concerns [11][12][14] Group 3 - The upcoming FOMC meeting will be significant, as it will be the first time Chair Jay Powell addresses reporters since a criminal investigation was initiated against the Fed, adding political drama to the proceedings [16][18] - The President is cautious about making a choice he may regret, as he has expressed dissatisfaction with his previous selection of Powell, indicating a desire for a trustworthy candidate [19][20] - The announcement regarding the interest rate decision is scheduled for 2 p.m. Eastern, with extensive coverage expected [21]