My 15-point plan is not yet under consideration.
Fed Chair Search Expands
The Wall Street Journal reports Trump’s Team Expands Search for Fed Chair, Adding New Names to List
President Trump’s team is reviewing new contenders to be the next chairman of the Federal Reserve, with a longtime economic consultant and a past Fed president added to the list, according to senior administration officials.
The Fed chair candidates include former St. Louis Fed President James Bullard; Marc Sumerlin, a former economic adviser to President George W. Bush; National Economic Council director Kevin Hassett; Fed governor Christopher Waller; and former Fed governor Kevin Warsh, the officials said. Bullard and Sumerlin are two of the possible nominees added to a list of about 10 people under consideration for the job, the officials said.
Trump is turning to Treasury Secretary Scott Bessent to lead the search for the next chairman, according to the officials. Bessent will conduct the initial interviews with all of the candidates and will then recommend a final list of possible choices, who will then meet with Trump, the officials said. Trump has said other top advisers would also be involved in the process.
The development of a long list of candidates to succeed Fed Chair Jerome Powell, whose term ends next May, comes as a surprise. Trump as recently as this week indicated he was considering three finalists for the job, including Warsh and Hassett, who are widely viewed as the front-runners for the position.
On Thursday, Trump announced adviser Stephen Miran would fill an unexpected, short-term vacancy on the Fed’s seven-person board. Because Powell hasn’t said whether he would step off the board when his term as chair ends, Trump may not have any other vacancies to replace Powell. If confirmed, Miran’s term would run through Jan. 31, though he could remain in the job until any successor is confirmed.
Bullard left the St. Louis Fed in 2023 to become the dean of Purdue University’s business school. In 2019, he recommended Waller, his research director at that time, as a possible candidate for the Fed board. Trump later nominated Waller to the board. At the time, Bullard publicly volunteered that he would be interested in serving as Fed chair if the opportunity ever became available.
Sumerlin served as deputy director of the National Economic Council after advising Bush during his 2000 campaign for president. In recent years, he has run his own economic advisory firm, where he has interacted with Bessent.
Waller interviewed with Bessent two weeks ago. While some people who have spoken with Bessent say Waller has impressed them, others have been skeptical of his candidacy and regard him as a long shot.
Fed Chair Odds List
Bullard under 10 cents is likely a good bet.
Warsh at 20 cents is overpriced. He has been a fiscal hawk.
Mish Still Available
I am shocked that my name has not yet surfaced.
On July 9, I posted I Officially Announce my Availability to Become the Next Fed Chair
Trump considers naming the next Fed Chair early. I have a fifteen-point plan.
Mish’s 15-Point Fed Plan
- Explain to the nation why we don’t need a Fed and how independent central banks have created boom-bust cycles of increasing amplitude over time. The main corollary is history shows the one thing worse than independent central banks is a central bank run by politicians, frequently ending in hyperinflation.
- Surround myself with qualified insiders who understand the Fed but also believe in the mission to end the Fed.
- Stop paying interest on reserves, phased in over 18 months.
- Wind down the Fed’s balance sheet totally in 2-3 years.
- Require that assets available on demand such as checking and savings accounts are truly available on demand. That means demand deposits are parked in overnight US treasuries. This would be phased in over two years. As a result, we would have genuine safekeeping banks. … ….
Who else has announced a plan like mine?
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August 5, 2025: Did Trump Fire the BLS Head for Cause, Being the Messenger, or Something Else?
“The process of obtaining the numbers is decentralized by design to avoid opportunities for interference.”
August 5, 2025: BLS Chief New Job Requirement, Be a Trump Loyalist, the Pay Is $195,000
The hunt for a new BLS head is on.
I expect a phone call from Bessent any minute now.
More seriously, unless one is 100 percent committed to constant criticism from Trump (or being a total suck-up doing what he says), why would anyone want the job? Total arrogance that they can be different?
