President Trump interviewed Federal Reserve Gov. Christopher Waller as the White House zeroes in on a short list of four contenders to succeed Fed Chairman Jerome Powell, according to a report.
Waller had a “strong interview” with Trump that focused heavily on the labor market and ways to jump-start job creation, two senior officials familiar with the meeting told the financial news channel CNBC.
The interview took place inside the president’s residence and wrapped up shortly before Trump addressed the nation on the economy Wednesday night.
Treasury Secretary Scott Bessent, White House chief of staff Susie Wiles and deputy chief of staff Dan Scavino were also present, officials told CNBC.
The positive assessment of Waller’s sit-down did not mean he has emerged as the favorite, officials cautioned, but it underscored that Trump’s decision-making process remains active and structured as he weighs who will replace the current Fed chair.
Administration officials told CNBC that the candidate list has narrowed to four: Waller; National Economic Council Director Kevin Hassett; former Fed Gov. Kevin Warsh; and BlackRock fixed-income chief Rick Rieder.
Rieder is scheduled to interview with Trump at Mar-a-Lago during the last week of the year. Fed Gov. Michelle Bowman is no longer under consideration, officials said.
Hassett and Warsh have already been interviewed by Trump, leaving Waller and Rieder as the final two candidates yet to complete the process.
Officials told the conversation with Waller centered on jobs and the health of the labor market, pushing back on criticism that Trump is seeking a Fed chair who would simply heed the president’s diktats on interest rates.
They told CNBC that Trump’s interviews with candidates as “broad-based across a series of economic issues,” not narrowly focused on rate cuts.
That framing contrasts with Trump’s public remarks last week, when he told the Wall Street Journal the Fed chair should consult with him on interest rates.
“It doesn’t mean — I don’t think he should do exactly what we say,” Trump said at the time. “But certainly we’re — I’m a smart voice and should be listened to.”
Trump again praised Waller on Thursday when asked about the Fed governor in the Oval Office.
“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.
Trump interviewed Waller in 2019 and later nominated him to the Federal Reserve Board.
In his speech Wednesday night, the president said: “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.”
Waller has publicly aligned himself with that direction in recent months.
Speaking to CNBC on Wednesday at the Yale CEO Summit in New York — before his meeting with Trump — Waller said he believes interest rates could fall by 50 to 100 basis points below current levels.
He said he expects inflation to continue easing and expressed concern about a weakening labor market.
The Post has sought comment from the White House and Waller.
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