Trump Election Sparks Speculation on Fed Chair Including 'Father of Supply-Side Economics' and Rapper

Candidates including Washi, Haeset, and rapper... Details to be finalized within months
Trump: "Chairman Powell is America's enemy... Will not reappoint"

Three candidates, including Arthur Laffer, former University of Chicago professor known as the 'father of supply-side economics,' are being considered for the Federal Reserve (Fed) Chair position if former U.S. President Donald Trump is elected.

The Wall Street Journal (WSJ) reported on the 17th (local time), citing sources, that at a meeting held on the 14th at Mar-a-Lago in Florida, Trump's economic advisers presented a list of candidates for the Fed Chair.

Arthur Raffer, former University of Chicago professor.

Stephen Moore, a Heritage Foundation researcher and former economic adviser to Trump, and former professor Laffer recommended Kevin Warsh, former Fed Governor and economic policy adviser to former President George W. Bush, and Kevin Hassett, former White House Senior Economic Adviser and chairman of Trump's Council of Economic Advisers. Laffer's name was also included on the recommendation list.

Warsh was appointed as the youngest Fed Governor at age 35 during the Bush administration and played a key role in determining major monetary policies during the financial crisis recovery. He was a member of Trump's Strategic and Policy Forum and competed with Jerome Powell, the current Fed Chair, for the next chair position in 2017.

Hassett, an economist from the Republican-leaning think tank American Enterprise Institute (AEI), is an advocate of free trade. He has served as an economic adviser to former President Bush, the John McCain campaign, and the Mitt Romney campaign.

Laffer is a leading American supply-side economist, famous for the 'Laffer Curve,' which explains the phenomenon where tax revenue decreases when tax rates exceed a certain level. He served on President Ronald Reagan's White House Council of Economic Advisers and provided the theoretical foundation for large-scale tax cut policies. He also worked as an economic adviser during Trump's 2016 presidential campaign.

David Malpass, former President of the World Bank (WB), and Judy Shelton, nominated by Trump as a Fed Governor in 2019, were also mentioned but did not make the final candidate list.

According to sources, former President Trump has not yet finalized the successor to Chair Powell. Currently, selecting a running mate is the top priority, and the next Fed Chair is expected to be finalized after reviewing several candidates within a few months. Chair Powell's term expires in 2026, and he will remain a Fed Governor until 2028.

Chair Powell was nominated by former President Trump and is currently serving a second term after being nominated by President Biden. However, Trump publicly criticized Powell during his presidency, calling him 'America's enemy.' He accused Powell of considering interest rate cuts to help the Democratic Party in the election. Last month, Trump drew a line by stating he had no plans to reappoint Powell. It remains unclear whether Trump will dismiss Powell before his term expires.

Researcher Moore said, "If former President Trump wins the election, the Fed Chair will be one of the most important decisions in terms of personnel aside from Supreme Court nominees," adding, "The Prosperity Promotion Committee agreed that nominating Powell was a mistake, and so does former President Trump." Moore co-founded the Prosperity Promotion Committee with former professor Laffer and Steve Forbes, chairman of Forbes Media, advocating for dollar stabilization, low taxes and tariffs, reduced government spending, and deregulation.

This content was produced with the assistance of AI translation services.