Overview
- President Trump named Kevin Warsh and Kevin Hassett as his leading candidates to succeed Jerome Powell, whose term ends in May 2026.
- On CBS’ Face the Nation, Hassett said Trump’s views would carry “no weight” with the FOMC and that policy would be based on data and committee votes.
- Kalshi on Monday showed Warsh at 47% and Hassett at 41% after CNBC reported resistance to Hassett from people close to Trump.
- Reporting describes concerns from advisers and market figures that Hassett is too close to the president, with JPMorgan’s Jamie Dimon seen signaling support for Warsh at a private event.
- The Fed cut rates by 25 basis points last week to a 3.5%–3.75% target range, providing the policy backdrop as markets track the succession contest.