Federal Reserve Governor Christopher Waller participated in a "strong interview" with President Donald Trump for the position of central bank chair, focusing in-depth on the labor market and strategies for job creation, according to senior administration officials. The meeting occurred at the president's residence and concluded before Trump's nationwide address on the economy on Wednesday night.
In attendance at the session were Treasury Secretary Scott Bessent, chief of staff Susie Wiles, and deputy chief of staff Dan Scavino. According to officials, Blackrock's Rick Rieder is slated for an interview at Mar-a-Lago for the Fed chair position during the final week of the year. They also noted that Fed Governor Michelle Bowman is no longer under consideration for the role.
National Economic Council Director Kevin Hassett, who is currently favored in prediction markets for the position, and former Fed Governor Kevin Warsh have previously partaken in interviews with Trump. The discussions with Waller, officials stated, demonstrated that concerns and criticism over the president seeking a candidate who would simply follow his directives on rates were unfounded. They emphasized that the president's interest spans a series of economic issues.
Last week, Trump told The Wall Street Journal, that the Fed chair should consult with him on rates, but clarified, "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."
On Thursday, in response to a reporter's question in the Oval Office, Trump praised Waller, calling him "great," and emphasized Waller's long-term involvement. Trump had interviewed Waller in 2019 and subsequently nominated him as a Fed governor.
Despite Trump's commendation of Waller and the positive assessment of the interview, there was no indication he was the favored candidate for the chair position. It is clear that the interview process remains ongoing, with no final decision yet made. Officials described the interviews as following a "highly organized process."
In his speech on Wednesday, Trump stated, "I will soon announce our next chairman of the Federal Reserve, someone who believes in lower interest rates by a lot, and mortgage payments will be coming down even further."