Trump says he has decided on his Fed chair pick: NYT

Summary

Nick Timiraos of The Wall Street Journal discusses President Trump's comment that he has decided on his next Federal Reserve chair pick but has not announced it. Timiraos says the two Kevins, Kevin Hassett and Kevin Warsh, remain the leading candidates, while Rick Rieder may still be interviewed and the process remains fluid. He also says the next chair will face a divided FOMC, economic crosscurrents, and White House pressure for more rate cuts, with current Fed officials comfortable holding rates absent a data shock.

• Trump says he has decided on a Fed chair pick but has not announced it.
• Nick Timiraos says Kevin Hassett and Kevin Warsh remain the front-runners.
• Rick Rieder may still receive an interview, and Treasury Secretary Bessent's process has delayed a premature decision.
• The next Fed chair would inherit a divided committee and White House pressure for rate cuts.
• Fed officials appear comfortable holding rates for now absent an ugly surprise.
• The upcoming jobs report is cited as a near-term risk to the hold stance.