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Federal Reserve Chairman Transition? Trump Praises Wosh, Who Jumps to the Top of the List for Next Fed Chair
BlockBeats News, December 13th, according to The Wall Street Journal, on Friday, U.S. President Trump stated that Kevin Warsh has risen to the top of his next Federal Reserve Chair candidate list, but other candidates are still in the running. Previously seen as a candidate on Trump's list but not the frontrunner, Warsh, who himself served as a Fed governor, apparently gained further favor after meeting with Trump on Wednesday.
"Yes, I do. I think he is," according to interview content released Friday afternoon, when asked if Warsh is at the top, Trump told the media so. Referring to the frontrunner widely favored by the previously predicted market, National Economic Council Director Kevin Hassett, Trump said, "I think both Kevins are great." "I think there are several other excellent candidates," he added.
Hassett had previously emerged as the frontrunner. In public, when asked about the possibility of taking over the position, he has always been cautious, only stating that he would accept if invited. Democratic Senator Elizabeth Warren of Massachusetts expressed on Thursday on the NBC financial channel her concern that Trump would appoint a "puppet" as Fed chair to carry out his wishes.
In addition to emphasizing Warsh's potential appointment to the position, Trump once again reiterated his past view that the Fed Chair should consult with the President on interest rate decisions. This move would overturn the tradition of the Fed maintaining independence.
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