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US President Donald Trump will speak to Federal Reserve Governor Christopher Waller on Wednesday.
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The interview for the new prospective chairman of America’s central bank will happen on Wednesday, reported the WSJ, citing people familiar with the matter.
Pro-crypto Waller, whom Trump originally appointed to the Fed board in 2020, has been a leading advocate for rate cuts this year and could take over when Jerome Powell’s term ends in May 2026. He is favored by Wall Street economists for his consistent policy arguments, according to the report.
Last week, Trump interviewed former Fed governor Kevin Warsh and director of the National Economic Council, Kevin Hassett, both of whom are high on the list for the job. Poylmarket prediction polls currently have Hassett on 53%, Warsh at 29%, and Waller with a 15.3% probability of nomination.
A Welcome Move For Crypto
The crypto industry would welcome the move, as Waller could usher in master accounts for crypto companies, said Caitlin Long, founder and CEO of Cusodia Bank.
The WSJ reported that Waller is considered an underdog because he lacks the close personal relationship with Trump that other leading candidates have. Some Trump allies also view Waller’s support for a September 2024 rate cut before Trump took office as disloyal.
Treasury Secretary Scott Bessent said Trump will likely announce his decision in early January after interviewing candidates this week and next.
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However, the president remains cautious after regretting his 2017 appointment of current Chair Jerome Powell, saying he received a “bad recommendation” at the time.
All Change at the Fed
Trump is eager to replace Jerome Powell, whom he has labelled “too slow” over his delays in reducing interest rates. However, Powell remained hawkish following his most recent rate cut.
“Trump’s just going to replace him with a dove. So we’re gonna get a lot of monetary stimulus. We’re going to get a lot of fiscal stimulus,” said David Waddell, CEO of Waddell & Associates.
The Fed made three rate cuts in 2024 and three in 2025, the most recent on December 10, bringing the rate down from a high of 5.5% to 3.75%, which is still too high, according to economists and the President.
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Source: https://cryptopotato.com/trump-set-to-interview-pro-crypto-christopher-waller-for-fed-chair/
