Investors favor Waller, but his prospects of becoming the next Fed chair are likely limited by his commitment to independence and lack of a close relationship with the president, unlike Hassett and Warsh. The Fed chair is only one of 12 votes on the policymaking Federal Open Market Committee, which sets the benchmark Federal Funds Rate.

At their December 9-10 meeting, Fed officials agreed to cut their key interest rate by a quarter point for the third time this year, to about 3.6%, the lowest in nearly three years.

Ahead of the New Year's holiday, President Donald Trump said he will make a decision on who he wants to lead the Federal Reserve by January. Current Chair Jerome Powell's term expires in May 2026, and he has made it clear he will fulfill his obligation running the central bank.

The president stopped short of announcing his selection, but when asked about Kevin A. Hassett, his top economic adviser, he said he was “certainly one of the people that I like.”

Trump says he has decided on the next Fed chair but won’t name the pick, intensifying scrutiny of central bank independence and rate policy.

A drop in the unemployment rate may ease concerns at the U.S. central bank about labor market weakness, with traders betting Federal Reserve Chair Jerome Powell has delivered his last interest rate cut before his term ends in May and leaving any further policy easing in the hands of whomever President Donald Trump taps as Powell's successor.

For the central bank to lower interest rates again, officials will likely need to see more notable signs that unemployment is rising.

The Federal Reserve cut its benchmark rate again at its final meeting of the year Wednesday. That disagreement was evident in Wednesday’s 9-3 vote to cut rates, the most divided decision of the current cycle. Still, Powell signaled that Fed officials ...

President Trump could announce his choice to lead the Federal Reserve later this month, Treasury Secretary Scott Bessent said Thursday. Bessent told the Economic Club of Minnesota that Trump hasn’t yet interviewed the last of four finalists under consideration,

Several coin distribution locations — including in Detroit and elsewhere in Michigan — are to resume accepting penny deposits on behalf of the Fed.

Kevin Warsh emerges as top Fed chair candidate as Trump confirms decision on Powell's replacement but withholds name until May.