Trump has named a new favorite to head the US Fed

Kevin Warsh, a former member of the regulator's board of governors, has topped the list of candidates to become the next chairman of the US Federal Reserve, President Donald Trump said in an interview with The Wall Street Journal. He said he was leaning toward either this contender or another favorite, Kevin Hassett, who heads the National Economic Council.

"Yeah, I think he (Kevin Warsh - Oninvest) is at the top [of the list]. I think you have Kevin and Kevin. I think both Kevin's are great," the WSJ president said. - I think there are a couple other great candidates."

According to the publication's sources, during a meeting Trump had with Warsh this week as part of a series of interviews for the Fed chief job, the president was mainly interested in whether the nominee would support the idea that interest rates should be lowered if appointed. In an interview with the WSJ, Trump confirmed this information, "He thinks interest rates should be lowered. And that's the view of all the other [nominees] I've talked to."

The US president also said that the next Fed chairman will have to consult with him on rate decisions.

In 2017, Trump had already considered Worsh to head the regulator, but ultimately chose Jerome Powell, who then supported the Fed's loose monetary policy. Trump has since repeatedly threatened to fire Powell for his reluctance to cut rates.

Powell's term expires in May 2026.

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