Trump to Interview Fed Governor Waller for Chair Position

President Donald Trump is scheduled to interview Federal Reserve Governor Christopher Waller on Wednesday, December 17, 2025, as he broadens his search for the next leader of the nation’s central bank. While the President has identified National Economic Council Director Kevin Hassett and former Fed Governor Kevin Warsh as his primary front-runners, the inclusion of Waller signifies a deliberate effort to evaluate a highly respected internal candidate. Waller, who was originally nominated to the Fed board by Trump and confirmed in 2020, has emerged as a prominent advocate for rate reductions, even dissenting in favor of a cut during the Fed’s July meeting when the majority voted to hold steady.

Waller’s Intellectual Standing and Market Odds

Economists frequently cite Waller as a top choice due to his ability to provide intellectually consistent and rigorous arguments for shifting toward a more accommodative monetary policy. Unlike many of his peers, he has successfully anticipated the cooling of the labor market and has laid out a clear roadmap for how the Fed can lower rates without reigniting inflation. This approach has earned him respect within the Federal Open Market Committee (FOMC), with even Chair Jerome Powell adopting several of Waller’s recent policy arguments. However, despite his strong track record, Waller remains a “long shot” in prediction markets like Kalshi and Polymarket, where his odds sit at roughly 15% compared to over 50% for Kevin Hassett.

The Dynamics of Personal Loyalty vs. Institutional Expertise

The primary hurdle for Waller appears to be a lack of the close personal and political ties that define the candidacies of Hassett and Warsh. While Hassett is a key figure in the current administration’s economic council and Warsh has long moved in Trump’s inner circles, Waller is viewed more as a career institutionalist. Treasury Secretary Scott Bessent has indicated that the President is looking for a leader who can balance institutional stability with a structural vision that favors growth. Waller’s interview today is expected to focus on his willingness to navigate internal Fed divisions and his perspective on how the central bank can support the administration’s broader economic agenda while maintaining its operational independence.