Potential candidates to replace Jerome Powell as Federal Reserve Chair include¹ ²:

- *Kevin Warsh*: A former Fed governor and strong contender, Warsh has been critical of the Fed's current direction, advocating for a "strategic reset" to repair public confidence. He's emphasized the importance of central bank independence and non-political policy-making.

- *Chris Waller*: A current Fed governor, Waller stresses the significance of retaining Fed independence and making policy decisions without political influence. He's acknowledged the scrutiny that comes with being Fed Chair and is prepared to face criticism.

Other potential candidates mentioned include³:

- *Michelle Bowman*: A Federal Reserve Governor who could be considered for the role.

- *Kevin Hassett*: An external candidate who has been discussed as a potential pick.

- *Arthur Laffer*: Another external candidate who could be considered for the position.

It's worth noting that President Donald Trump has expressed plans to overhaul the Fed and potentially remove Powell before his term ends in May 2026. If Trump succeeds in reducing the Fed's independence, it could lead to lower policy rates and increased inflation.