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U.S. President Donald Trump speaks during a roundtable discussion with top business leaders in the Roosevelt Room at the White House on December 10, 2025 in Washington, DC. (Photo by Alex Wong/Getty Images)
President Donald Trump is reaching the final stages of his search for the next Federal Reserve chair.
During a Wednesday meeting with business leaders at the White House, Trump said he was scheduled to meet with Federal Reserve Gov. Kevin Warsh later in the day. Warsh is one of the finalists to replace Jerome Powell once his term ends in May 2026.
One item was predictably at the top of his mind: lower interest rates. "I’m looking for somebody that will be honest with interest rates," Trump said. "Our rates should be much lower. Our rates should be the lowest in the…
By
U.S. President Donald Trump speaks during a roundtable discussion with top business leaders in the Roosevelt Room at the White House on December 10, 2025 in Washington, DC. (Photo by Alex Wong/Getty Images)
President Donald Trump is reaching the final stages of his search for the next Federal Reserve chair.
During a Wednesday meeting with business leaders at the White House, Trump said he was scheduled to meet with Federal Reserve Gov. Kevin Warsh later in the day. Warsh is one of the finalists to replace Jerome Powell once his term ends in May 2026.
One item was predictably at the top of his mind: lower interest rates. "I’m looking for somebody that will be honest with interest rates," Trump said. "Our rates should be much lower. Our rates should be the lowest in the world."
When asked whether he was explicitly advocating for lower interest rates in his interviews, Trump sidestepped the question. On Tuesday, though, he told Politico that he considered lower interest rates as "a litmus test" for his Fed pick. Since the summer, he has bashed Powell repeatedly for being too slow in lowering interest rates, arguing that has kept a lid on economic growth.
Other finalists for the Fed’s top job include White House National Economic Council Director Kevin Hassett and Federal Reserve Governor Christopher Waller. Hassett, though, is widely considered the frontrunner. He recently stressed his ability to reach independent decisions, though added he believed there was still plenty of room to slash borrowing costs.
In particular, several GOP senators told Quartz on Tuesday that they were receptive to Hassett if the president nominates him. Hassett has raised eyebrows among some investors that he won’t keep the Fed separated from the executive branch, as it has usually carried out monetary policy.
The Fed slashed interest rates on Wednesday by 25 basis points, the third and final rate cut to close out the year. Trump described it as "a rather small number that could have been doubled."