Waller Now Leading Trump Team's Fed Chair Picks

Federal Reserve Governor Christopher Waller has become the leading contender to succeed Jerome Powell as Fed Chair, with his odds boosted by endorsements from Trump advisers and prediction market trends. Waller's recent public dissent at the July Fed meeting, in which he advocated for an immediate rate cut due to labor market weakness and slowing economic growth, has distinguished him among candidates. While Trump himself has not met with Waller, his team has, and Waller has indicated he would accept the chairmanship if offered. Waller's approach, favoring forecasts over lagging data, aligns with a more accommodative monetary policy stance sought by some Fed members. Other contenders, including Kevin Hassett and Kevin Warsh, now lag behind Waller in both market odds and consideration. Meanwhile, the White House is interviewing candidates to replace Governor Adriana Kugler, raising expectations of another policy dove joining the Fed board.