Federal Reserve Governor Christopher Waller engaged in a significant interview with President Donald Trump for the role of central bank chair, focusing heavily on the labor market and strategies to stimulate job creation, as revealed by senior administration officials.
Conducted at the president's residence, the discussion wrapped up shortly before Trump delivered a speech on the economy on Wednesday evening. Treasury Secretary Scott Bessent, Chief of Staff Susie Wiles, and Deputy Chief of Staff Dan Scavino were also in attendance.
Another contender for the position, Blackrock's Rick Rieder, is scheduled for an interview at Mar-a-Lago towards the end of the year, officials disclosed. Fed Governor Michelle Bowman is no longer being considered for the role.
Previously, National Economic Council Director Kevin Hassettācurrently favored in prediction marketsāand former Fed Governor Kevin Warsh have been interviewed by Trump for the position.
Officials mentioned that the job-centric conversation with Waller countered criticisms that Trump would pick a candidate solely based on whether they would comply with his views on interest rates. They emphasized Trump's broad-based interest across various economic topics during these interviews.
Last week, Trump mentioned to The Wall Street Journal that he believes the Fed chair should seek his input on rates, saying, "It doesn't meanāI don't think he should do exactly what we say. But certainly we'reāI'm a smart voice and should be listened to."
On Thursday, in the Oval Office, President Trump commended Waller when asked by a reporter. "I think he's great. I mean, he's been a man who has been there a long time, somebody that I was very involved with," Trump said, recalling his 2019 interview with Waller and subsequent nomination of him as a Fed governor.
Despite the positive review of Waller and the interview, there was no clear indication of his status as a frontrunner. It remains evident that the interview process is ongoing, with the president yet to finalize his decision, according to officials who describe the process as "highly organized."
During his speech on Wednesday, Trump declared, "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."