Group 1 - Christopher Waller is emerging as a leading candidate to replace Jerome Powell as the Federal Reserve Chair in Trump's advisory team, noted for his willingness to base policies on forecasts rather than current data [1][2] - Waller has already met with Trump's team regarding the position, although he has not yet spoken directly with Trump himself [2] - Other candidates for the position include Kevin Warsh and Kevin Hassett, with Hassett having previously met with Trump and made a strong impression [2] Group 2 - Powell's term as Fed Chair ends on May 15, 2026, and he has stated multiple times that he will not leave early; Trump indicated that an announcement regarding the new Fed Chair could come soon [2] - The Federal Reserve maintained the federal funds rate target range at 4.25% to 4.50% during its fifth consecutive meeting, with Waller and Michelle Bowman voting against the decision [2] - Following the rate decision, a non-farm payroll report showed a significant slowdown in U.S. job growth, aligning with Waller and Bowman's concerns [4] Group 3 - Waller, appointed to the Fed Board by Trump in 2020, has engaged in public debates on anti-inflation strategies with notable economists, asserting that the Fed could control post-pandemic inflation without significantly raising unemployment [4] - His predictions were validated as inflation rates fell below 3%, while unemployment remained below 4.2% [4] - Waller emphasized the importance of the Fed's independence for the U.S. economy and acknowledged that criticism is part of the role of the Fed Chair [5]