Two Kevins Lead Potential Bets to Replace Fed Chief Jerome Powell

President Donald Trump has narrowed his list of potential replacements for Federal Reserve Chairman Jerome Powell, telling reporters that “the Two Kevins” are among the leading contenders, Brent D. Griffiths reported for Business Insider.

Earlier this week, Trump said his shortlist includes Kevin Hassett, director of the National Economic Council, and Kevin Warsh, a former member of the Federal Reserve Board of Governors. (Photo: Executive Office of the President of the United States)

Trump’s repeated public criticisms — and a tense face-to-face meeting — have not convinced the central bank to cut rates or abandon Powell’s wait-and-see approach.

Amid the standoff, Trump is counting down the days until Powell’s term ends. Earlier this week, Trump said his shortlist includes Kevin Hassett, director of the National Economic Council, and Kevin Warsh, a former member of the Federal Reserve Board of Governors.

By week’s end, prediction markets swung sharply as reports emerged that other candidates could be rising in the ranks.

Among the names floated: Fed Governor Christopher Waller, Judy Shelton — a former Trump campaign adviser and outspoken Fed critic — James Bullard, and Marc Sumerlin.

The fight over Shelton’s nomination quickly spilled over into speculation about Waller’s future. In December 2020, the Senate confirmed Waller in a 48–47 vote, the narrowest margin for any Fed governor since 1980, according to The New York Times.