Trump Pressures Fed for Deeper Rate Cuts Amid Succession Speculation

President Donald TRUMP continues his aggressive campaign for lower interest rates, demanding the Federal Reserve slash its benchmark rate to 1%. The push comes as speculation mounts over who will lead the central bank in 2026. A Financial Times poll reveals a stark divide between academic preference and political reality.

While 82% of economists favor Chris Waller for Fed chair, only 20% believe he will secure the position. Kevin Hassett emerges as the frontrunner with 39% odds, reflecting Trump's heavy influence over monetary policy appointments. The president has repeatedly clashed with current Chair Jerome Powell, whom he derided as a "moron" for resisting faster rate cuts.

The Fed's recent quarter-point reduction to 4-4.25% failed to satisfy Trump's latest board nominee Steve Miran, who dissented in favor of a 50 basis point cut. Miran advocates five additional cuts by year-end - more than double what other policymakers support. Waller, seen as more moderate, remains among the dissenters pushing for looser policy.