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Fed to 'Wait as Long as Possible' on Rate Cut, John Kerschner
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August 7, 2025
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2:23Now PlayingJohn Kerschner, Head of U.S. Securitized Products & Portfolio Manager at Janus Henderson, talks about the rate outlook and fixed income opportunities amid labor weakening. Plus, a look into some interesting architecture at Yale.
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.
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.
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