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Fortune
  • 4 minutes ago
President Donald Trump is nearing an announcement on who should lead the Federal Reserve once Jerome Powell’s term ends in May, and speculation is growing that he could do it during his address at the World Economic Forum in Davos.

Fortune news fellow Eva Roytburg explains more about Trump's top candidates.

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🤖
Tech
Transcript
00:00It's no secret that Trump is ready for Jerome Powell's replacement.
00:03The real question is, who's it going to be?
00:05There are three main contenders, led by two men named Kevin.
00:08This is Kevin Warsh, a former Fed governor who's the market favorite
00:10and is widely considered to be the independent candidate.
00:13The second Kevin is Kevin Hassett, the architect of the 2017 tax cuts
00:16and is seen as controversial by publicly backing the Powell investigation,
00:20but was already pretty political before that.
00:22And the third candidate is Christopher Waller.
00:24He is a sitting Fed governor with a strong forecasting record
00:27and is widely considered the technocratic option if the process stalls.
00:31In response to the investigation into Jerome Powell,
00:33key Republican senators have said that they won't vote on any Fed candidate.
00:37Trump is going to be at Davos this week,
00:38and there's a chance that he could announce the new Fed chair there.
00:41And the reveal could shed light on how far Fed independence is willing to go.
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