Federal Reserve Governor Christopher Waller, who is on the short list to succeed Fed Chair Jerome Powell next year, said on Wednesday he would "absolutely" defend the central bank's independence if it were challenged by a U.S. president. ...

you're going to uh be meeting with the president later today. And first of all, yeah, it's what that we reported that. Um I want to thank you for continuing to keep your appointment at this for this conversation, which other people might have otherwise.Uh but um I'd like to say the president called me into a pre-in, but that's not precisely what happened. The president has said that he thinks he ought to have a say in interest rates. Um I imagine he might say that to you. I wonder if you might share your re ...

Core Points - Federal Reserve Governor Christopher Waller emphasizes the importance of central bank independence during his upcoming interview with President Donald Trump [1][2] - Waller has a strong background in advocating for central bank independence, having spent 20 years focused on this issue and possessing a substantial paper trail [2] Group 1 - Waller is one of five finalists to potentially succeed Jerome Powell as Federal Reserve chairman when his term ends in May [2] - Waller's interview with Trump is scheduled for this week, highlighting the significance of the upcoming discussions regarding the Federal Reserve's leadership [2]

Listen on the go! A daily podcast of Wall Street Breakfast will be available by 8:00 a.m. on Seeking Alpha, iTunes, Spotify.Getty ImagesSeeking Alpha News Quiz Up for a challenge? Test your knowledge on the biggest events in the investing world over the past week. Take the latest Seeking Alpha News Quiz and see how you stack up against the competition. Good morning! Here is the latest in trending:All things AI: President Trump has signed an executive order blocking state influence on AI laws. Elsewhere, D ...

In a move widely interpreted as a strategic effort to insulate the central bank from political interference, the Federal Reserve Board on Thursday unanimously approved the reappointment of all 12 regional Reserve Bank presidents and first vice presidents.Trump-Proofing The Federal Reserve?While the reappointments follow a standard statutory schedule, the confirmation of these tenures months ahead of their expiration has drawn immediate attention from economic observers.The decision secures the leadership of ...

The European Central Bank urged Rome on Monday to reconsider a proposed amendment that would say the Bank of Italy's gold reserves belong to the Italian people, warning the move could jeopardise the central bank's independence. ...

Core Viewpoint - The potential nomination of Kevin Hassett as the next Federal Reserve chair is seen as aligning closely with the administration's dovish stance on interest rates, which contrasts with the current consensus within the Federal Open Market Committee (FOMC) [1][2][5] Group 1: Nomination and Market Perception - Kevin Hassett is perceived by markets as a candidate who shares the administration's views on interest rates, which are more dovish compared to the current FOMC consensus [1][2] - The administration is likely to seek a candidate who is respected by markets and maintains central bank independence while also aligning with the president's policies [5][6] Group 2: Challenges and Considerations - If Hassett is appointed, he will face challenges in convincing other FOMC members to adopt his views on lowering interest rates, as the committee operates through a democratic process [4] - The administration's goal of lowering interest rates is seen as a potential constraint on the economy, raising questions about the feasibility of achieving this objective without triggering inflation concerns [6][7] - There is a risk that even if the Fed funds rate decreases, longer-term Treasury yields could rise due to market concerns about inflation and credibility, indicating that rate cuts may not lead to lower long-term yields [8]

Market Volatility - The markets have experienced significant volatility, with the S&P 500 down over 5% from its all-time high and the Dow Jones Industrial Average swinging 1,100 points in a single day [2] - Major tech stocks, including Nvidia, have also faced declines, reflecting the unpredictable nature of the current market environment [2] Tariff Impacts - President Trump's announcement of a 100% tariff on Chinese goods led to a severe market reaction, with the S&P 500 dropping 2.7% and the Dow losing 878 points on October 10, 2025 [3][4] - The average U.S. tariff on Chinese goods has fluctuated dramatically, impacting U.S. households with estimated costs of $1,200 in 2025 and $1,600 in 2026 [4] Pharmaceutical Sector Concerns - The pharmaceutical industry is facing anxiety due to a 100% tariff on branded or patented products, which could lead to increased costs and supply disruptions [5] - Analysts predict that prescription prices will rise, contributing to inflationary pressures in the sector [5] Energy Policy Developments - The Trump administration's plans for new offshore oil drilling aim to enhance U.S. energy security, but the market reaction has been mixed, with potential benefits for fossil fuel stocks and setbacks for renewable energy investments [6][7] - Analysts suggest that increased crude supplies could lead to lower oil prices, impacting oil stocks negatively [7] Federal Reserve Independence - President Trump's public criticism of Federal Reserve Chair Jerome Powell has created uncertainty regarding the Fed's independence, leading to market instability [8][9] - The potential for Powell's dismissal has caused fluctuations in major stock indexes, highlighting the sensitivity of markets to political statements [9] Geopolitical Influences - Trump's proposed peace plan for Russia and Ukraine has positively affected the Russian stock market, with the Moscow Exchange Index rising 2.4% [11] - However, the global market remains focused on broader economic challenges, indicating a disconnect between regional and global market reactions [11] Conclusion on Market Dynamics - The current market environment is characterized by unpredictability, driven by tariff threats, central bank independence concerns, and geopolitical maneuvers [12][13] - Investors are advised to brace for continued volatility as the political landscape evolves, impacting market stability [13]

Bank of England policymaker Megan Greene warned that mounting political pressure on the Federal Reserve’s independence could spill over to the UK https://t.co/IsrQIlfbY5 ...

Core Viewpoint - The article discusses the potential influence of former President Trump on the Federal Reserve's policies, particularly regarding interest rates, and highlights Christopher Waller's position as a key figure in this dynamic as he is considered a candidate to replace Jerome Powell as Fed chair [1][2][12]. Group 1: Waller's Position and Influence - Waller is seen as a proponent of central bank independence and has a reputation for making data-driven decisions, which he is not willing to compromise for political gain [3][12]. - Despite pressure from Trump and his allies for aggressive rate cuts, Waller has maintained a cautious approach, advocating for a quarter-point reduction rather than a more drastic half-point cut [5][6]. - Waller has expressed concerns about the Fed's role in political issues and has pushed for cost-cutting measures within the Fed, including a reduction of about 350 staffers in 2023 [18][20]. Group 2: Political Pressure and Fed Independence - Trump's administration is actively seeking to exert more control over the Fed, which could undermine its independence and have negative implications for the US economy and global markets [2][15]. - The potential for a board with a majority of Trump appointees raises concerns about the pressure to remove regional bank presidents, which could further compromise the Fed's autonomy [16][17]. - Waller's commitment to defending the Fed's independence is evident in his public statements emphasizing the importance of keeping politics out of monetary policy decisions [14][20]. Group 3: Economic Outlook and Policy Recommendations - Waller has been vocal about the need for lower interest rates, citing risks in the labor market and the impact of tariffs on inflation, which he believes should not be a persistent concern [9][10]. - His approach to monetary policy reflects a balance between advocating for necessary changes while maintaining the Fed's core mission and credibility as an inflation fighter [8][14]. - Analysts expect Waller to remain true to his economic analysis and not yield to political pressures for rate cuts that lack a clear economic justification [12][13].