A small group of candidates are reportedly being eyed to replace Federal Reserve Chairman Jerome Powell, including Dallas Fed President Lorie Logan.
On Monday, Bloomberg News reported that two administration officials said that Logan, along with both Federal Reserve vice chairs Michelle Bowman and Philip Jefferson, are being considered as potential picks to become the next chair of the U.S. central bank.
President Donald Trump has been highly critical of the sitting Fed Chair, saying Powell should have long ago begun cutting still lofty interest rates, currently holding at 4.2%-4.5%.
Last month, The Dallas Express reported that a Republican congresswoman claimed Powell’s firing was “imminent” over his overly cautious monetary policy and a controversial renovation project greenlit under his watch.
Before the latest rumors around Powell’s potential replacement, a number of candidates have been floated. The growing list has included National Economic Council director Kevin Hassett, former Fed Governor Kevin Warsh, current Fed Governor Christopher Waller, St. Louis Fed President James Bullard, and former economic adviser to President George W. Bush, Marc Sumerlin. Hasset, Waller, and Bowman have all previously supported lowering interest rates, a move the current Fed Chair has been reluctant to back.
“Our obligation is to keep longer term … inflation expectations well anchored and to prevent a one-time increase in the price level from becoming an ongoing inflation problem,” Powell said last month, per CNBC.
“For the time being, we’re well positioned to learn more about the likely course of the economy and the evolving balance of risks before adjusting our policy stance. We see our current policy stance as appropriate to guard against inflation risks.”
As recently reported in The Dallas Express, despite concerns over tariffs bumping up price acceleration, inflation in the second quarter of 2025 slowed to a 2.4% annual rate, down from 2.6% in the first quarter.