Christopher Waller the most serious candidate for the next head of the Fed

The most serious candidate for the next head of the American federal reserve is one of the governors of the Fed Christopher Waller Fed, said Bloomberg's agency on Thursday. The term of office of the current chairman of the Council of Governors of the Federal Reserve System Jerome Powell expires in May 2026.

Advisors of US President Donald Trump are impressed by Waller's competence and the fact that he is willing to rely in his decisions on economic forecasts, not on current data. It is also important that he thoroughly knows the entire federal reserve system – reports Bloomberg, citing interlocutors who want to maintain anonymity.

Waller has already met Trump's people responsible for searching for Powell's successor. In this team – as the president himself informed on Wednesday – there are, among others, US finance minister Scott Bessent, vice president of JD Vance and minister of trade Howard Lutnick.

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In addition to Waller, the serious candidates for the head of the Fed are also: the head of the Economic Advisors of the White House Kevin Hassett and former Fed Kevin Warsh official. Trump announced on Wednesday that the list of people considered for this position was limited to three.

“President Trump will still nominate the most competent and experienced people (…). However, if the information does not come from President Trump himself, all discussions about personal decisions should be treated as ordinary speculation,” one of the spokespersons of the White House Kush Desai announced in a communiqué.

The Fed refused to comment on the information provided by Bloomberg's interlocutors.

The agency reports that last week Waller was one of the two members of the Governors' Council who opposed the decision of its other members about maintaining interest rates at the current level.

Powell has already decided that this year's summer will be the period in which the Federal Reserve will try to assess how the US economy reacts to the prohibitive duties implemented by Trump and whether there are signs of growing inflationary pressure. However, Waller argued that interest rates should be reduced due to signals about the deterioration of the situation on the labor market.

Bloomberg points out that the employment data published a few days later confirmed Waller's assessment, because in the last three months unemployment has increased.

In mid -July, Bessent announced that Trump's administration began a formal process of searching for Powell's successor, i.e. another head of the Fed; He emphasized that the search for a new head of the central bank is Trump's decision.

The president, who has been demanding for a long time to lower interest rates to stimulate the economy, repeatedly offended Powell and threatened to release him, he also called the head of the Fed “a moron”.

Trump's behavior towards Powell is concerned about whether the person he indicates to his successor will be able to defend the independence of the central bank – notes Bloomberg. Waller himself said that this independence is crucial for the economy, but he stipulated that the president has the right to articulate his expectations towards the Fed.

Experts are afraid that if the next head of the federal reserve is very susceptible to Trump's pressure, the market will recognize that the Fed has lost independence. Powell has not yet bent and did not apply the president to the wishes.

The federal reserve is considered one of the most important financial institutions in the world; However, if the Fed lost their credibility, he would lose his ability to influence markets.

Lowering interest rates is a stimulus for economic development, but – as the French weekly “L'EXPRESS” wrote – “However, such an increase is illusory, because it is a kind of artificial embellishing of the situation”, leading to price increases. (PAP)

Fit/ AP/

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