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Waller Emerges as Favorite for Fed Chair Among Trump Team
(Bloomberg) -- Federal Reserve Governor Christopher Waller is emerging as a top candidate to serve as the central bank's chair among President Donald Trump's advisers as they look for a replacement for Jerome Powell, according to people familiar with the matter. All Hail the Humble Speed Hump Mayor Asked to Explain $1.4 Billion of Wasted Johannesburg Funds Three Deaths Reported as NYC Legionnaires' Outbreak Spreads Major Istanbul Projects Are Stalling as City Leaders Sit in Jail PATH Train Service Resumes After Fire at Jersey City Station Trump advisers are impressed with Waller's willingness to move on policy based on forecasting, rather than current data, and his deep knowledge of the Fed system as a whole, the people said. Waller has met with the president's team about the role, but has yet to meet with Trump himself, the people said on the condition of anonymity to discuss private deliberations. Kevin Warsh, a former Fed official, and Kevin Hassett, currently Trump's National Economic Council director, also remain in contention for the job, the people said, which will open up when Powell's tenure as chair expires in May 2026. 'President Trump will continue to nominate the most competent and experienced individuals,' White House Spokesman Kush Desai said in a statement. 'Unless it comes from President Trump himself, however, any discussion about personnel decisions should be regarded as pure speculation.' A representative for the Fed declined to comment. Trump said on Wednesday that the administration has narrowed the list of candidates for Fed chair to three people. Treasury Secretary Scott Bessent, Vice President JD Vance and Commerce Secretary Howard Lutnick are on the search committee, Trump said. Hassett has met with Trump to discuss the chair job and has also impressed both the president and the team, Bloomberg News has reported. Warsh interviewed for the job in 2017 but was ultimately passed over for Powell. In November, he was also considered to serve as Treasury secretary. Waller's Dissent Last week, Waller was one of two Fed board members to vote against the central bank's decision to hold its benchmark rate steady for a fifth consecutive time. He and his colleague Michelle Bowman, both Trump nominees, preferred a quarter-point reduction, citing growing signs of labor-market weakness. A few days after the Fed announced its decision to hold interest rates, a jobs report showed that job growth cooled sharply over the previous three months, lending credence to Waller and Bowman's dissent. Waller's views differed from those of Powell and other policymakers on the board, who have so far described the labor market as broadly solid and have supported a patient approach to adjusting rates so that the central bank can continue to gauge how Trump's tariffs will impact the economy. That view has frustrated the president, who has repeatedly assailed Powell for not cutting rates sooner. Waller, a Ph.D. economist, has attracted the attention of Trump's economic advisers over the past year as the president talked about the economy while on the campaign trail. Fed Experience Trump nominated Waller to the Fed in 2020. Before that, he had served as a research director and executive vice president at the St. Louis Fed. In 2020, senators voted 48-47 to support Waller's nomination to the Fed board. As a Fed governor in 2022, Waller engaged in a public debate with influential economists outside the Fed, including former Treasury Secretary Larry Summers, with his argument that the central bank could successfully lower the post-pandemic inflation without significantly raising unemployment. In the end, Waller proved right as inflation came back below 3% and unemployment never moved back above 4.2%. Trump's dissatisfaction with Powell has triggered questions about whether his next pick to lead the Fed would back monetary policy independence for the central bank. Waller has said that the Fed's independence is critical for the economy, but added that the president is free to say what he wants the Fed. Last month, Waller told Bloomberg Television that he hasn't yet directly heard from the president about the Fed chair role. 'If the president contacted me and said, 'I want you to serve,' I would do it,' he said in July. 'But he has not contacted me.' While Powell's term as chair doesn't expire until May, Trump is getting an earlier shot at reshaping the central bank. He said on Wednesday that he planned to fill a soon-to-be vacant slot from Adriana Kugler's early departure from the Fed board with a short-term pick, and then later name a candidate for the 14-year term opening which renews in early 2026. --With assistance from Annmarie Hordern, Christopher Condon and Hadriana Lowenkron. The Pizza Oven Startup With a Plan to Own Every Piece of the Pie Russia's Secret War and the Plot to Kill a German CEO AI Flight Pricing Can Push Travelers to the Limit of Their Ability to Pay A High-Rise Push Is Helping Mumbai Squeeze in Pools, Gyms and Greenery Government Steps Up Campaign Against Business School Diversity ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
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Waller emerges as favorite for Fed chair among Trump team, Bloomberg News reports
(Reuters) -Federal Reserve Governor Christopher Waller is emerging as a top candidate to serve as the central bank's chair among President Trump's team, Bloomberg News on Thursday citing people familiar with the matter. Errore nel recupero dei dati Effettua l'accesso per consultare il tuo portafoglio Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati
Yahoo
2 minutes ago
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ICE detainee found hanging by neck in detention facility
An Immigration and Customs Enforcement detainee has died in custody after he was found hanging by his neck in the shower room at the Pennsylvania facility where he was being held, according to ICE. Chaofeng Ge, a 32-year-old citizen of China in ICE custody, was pronounced dead by the Clearfield County coroner at approximately 6 a.m. on Tuesday, according to ICE. While the cause of death is under investigation, Ge was found hanging by the neck and unresponsive in the shower room of his detention pod, ICE said. MORE: ICE recruitment efforts upset some local law enforcement leaders Staff who discovered Ge immediately lowered him to the ground, began CPR and contacted emergency medical services, state police and the coroner's office, according to ICE. Ge had been in ICE custody for only five days and was awaiting a hearing before the Department of Justice's Executive Office for Immigration Review, ICE said. Ge was detained at the Moshannon Valley Processing Center in Philipsburg, Pennsylvania. He was arrested in January for criminal use of a communication facility, unlawful use of a computer and access device fraud, according to ICE. ICE Philadelphia's Enforcement and Removal Operations York sub-office lodged an immigration detainer with the Dauphin County Prison one day after he was arrested. Ge pleaded guilty to accessing a device issued to another who did not authorize use and conspiracy to commit the same on July 31, according to ICE, and was sentenced to six to 12 months for each count and granted immediate release to the ICE detainer. He was then taken into ICE custody and transported to the York ICE office for processing, ICE said. MORE: IndyCar says it was unaware of DHS's use of AI-generated image featuring ICE branding "ICE remains committed to ensuring that all those in its custody reside in safe, secure, and humane environments," ICE said in a statement. "Comprehensive medical care is provided from the moment individuals arrive and throughout the entirety of their stay." "All people in ICE custody receive medical, dental and mental health intake screening within 12 hours of arriving at each detention facility, a full health assessment within 14 days of entering ICE custody or arrival at a facility, access to medical appointments and 24-hour emergency care," ICE said. The Department of Homeland Security acknowledged in a statement there was an in-custody death at the processing center. 'This morning, one detainee passed away at the Moshannon Valley Processing Center. All in-custody deaths are tragic, taken seriously, and are thoroughly investigated by law enforcement," a senior DHS official told ABC News. "ICE takes its commitment to promoting safe, secure, humane environments for those in our custody very seriously," the official said.
