Who Will Be the Next Fed Chair? Maybe Kevin

The Journal.

The Wall Street Journal

Daily News, Business News, News

4.2 • 5.3K Ratings

🗓️ 10 July 2025

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

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Summary

For years, President Trump has feuded with the Federal Reserve and Chair Jerome Powell over interest rates. And now, two Republicans named Kevin (Kevin Hassett, one of Trump’s closest economic advisers and Kevin Warsh—a former Fed governor) are vying to be the next chairman of the Federal Reserve. WSJ’s Nick Timiraos takes us inside the contest for the next Fed Chair and what the President might be looking for with his choice. Jessica Mendoza hosts. Further Listening: - Why Trump Pushed His Tariff Deadline - Is the Economy…OK? - Trump 2.0: Where Is the Economy Headed? Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Before he was president, Donald Trump had a signature catchphrase.
0:09.6	You're fired. You're fired. You're fired. You're fired. You're fired. You're all fired. You're fired. Go.
0:15.3	On his reality series The Apprentice, President Trump made a big show of firing people.
0:20.8	It's a philosophy he's brought into his presidency,
0:23.3	firing agency heads and employees across the federal government.
0:26.9	And there's one person Trump has made really clear he wants to get rid of,
0:30.7	Jerome Powell, the chair of the Federal Reserve.
0:34.5	I call him too late, Powell, because he's always too late.
0:37.5	I mean, if you look at him, every time I did this, I was right, 100%.
0:41.0	He was wrong.
0:42.7	The president's just very unhappy.
0:45.2	That's our colleague Nick Timrose.
0:46.8	He covers the Fed.
0:48.1	The Fed has paused interest rate cuts that they began last year
0:51.9	because they're worried that inflation is going to kick back
0:55.8	up here due to the president's tariffs.
0:59.6	Trump wants low interest rates and he's going to do whatever he can do to get what he thinks
1:06.9	is necessary there.
1:09.5	Jerome Powell's term as Fed Chair doesn't end until May of 2026.
1:14.7	But already, Trump is searching for a replacement, screening candidates in a way that looks a lot
1:19.8	like his reality TV show. And he's looking for a particular kind of person for the job.
1:25.4	Trump wants two things from his Fed share.
	...

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