President Trump has revealed his two finalists for the Federal Reserve Chair position as Jerome “Too Late” Powell’s tenure nears its end.
The president sat down with The Wall Street Journal on Friday to speak about who he views as the best replacement for Powell, who has been an abject disaster for ordinary Americans.
Trump said that he is leaning toward picking either National Economic Council Director Kevin Hassett or former Federal Reserve Governor Kevin Warsh to replace Powell, explaining his reasoning.
“Yes, I think he is. I think you have Kevin and Kevin. They’re both – I think the two Kevins are great,” Trump told the Wall Street Journal. “I think there are a couple of other people that are great.”
The top priority for Trump is finding a person who will agree to slash interest rates to make prices more affordable for ordinary Americans. This would have a particularly positive impact on the housing market.
Trump also said he met with Warsh on Wednesday, who is in alignment with Trump’s wishes.
“He thinks you have to lower interest rates,” Trump stated. “And so does everybody else that I’ve talked to.”
Hassett, though, would likely prove the most disruptive pick. He suggested in an interview with FOX Business’ Larry Kudlow on Tuesday that he would reform significant aspects of the Federal Reserve.
“The point is the Fed should be focused on monetary policy and to try to stay out of politics,” Hassett explained.
“And think about how many times in the last couple of years, or even just this year, you’ve seen Fed people, from regional presidents all the way up to people at the top, go on and on and on about tariffs and even falsely asserting that tariffs could be inflationary … and to make it your main talking point every time you give an economic speech is to do the opposite of what Alan Greenspan advised us to do,” he added.
Regardless of who he ultimately picks, Trump also wants the next chairman to consult with him on setting interest rates.
“Typically, that’s not done anymore. It used to be done routinely. It should be done,” Trump said. “It doesn’t mean – I don’t think he should do exactly what we say.
“But certainly we’re – I’m a smart voice and should be listened to.”
Whoever Trump chooses will enjoy a much more positive relationship with him.
As TGP readers know, Powell, until recently, has stubbornly refused to slash interest rates as the consumers suffer from staggering inflation and housing costs.
But Powell has had time to use billions of taxpayer dollars to renovate the Fed’s DC headquarters. He allegedly lied about the cost of such renovations and was referred to the Justice Department on perjury charges.
For these reasons, Trump has regularly criticized Powell and threatened to fire him before his time as Fed Chair expires on May 15, 2026.
Trump has since backed off on this push due to potential legal ramifications.
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