Trump to Interview Waller as Fed Chair Search Widens

• Trump interviews Christopher Waller for Federal Reserve chair on December 17, 2025.
• Kevin Warsh and Kevin Hassett stay in front as an early January decision forms.
• Regulator vacancies keep crypto legislation sensitive to staffing and enforcement choices.

U.S. President Donald Trump is continuing the search for the next Federal Reserve chair, with Federal Reserve Governor Christopher Waller scheduled for an interview on Wednesday, December 17, 2025. The White House process also includes comments about filling open seats at top financial regulators, a staffing issue that can shape how quickly crypto policy moves.

Trump is expected to meet Waller on Wednesday, according to reporting. Officials told reporters the interview schedule can change, as Trump weighs candidates ahead of a decision expected in early January 2026.

Related: Jerome Powell to Exit Fed Chair Role in 2026 as Leadership Debate Intensifies

Waller Joins Fed Chair Consideration

Waller, who Trump appointed to the Federal Reserve Board and the Senate confirmed in late 2020, has argued for lower rates during 2025. The Federal Reserve cut rates by 25 basis points at each of its last three meetings, taking the target range to 3.5% to 3.75%, and Waller has pushed for easier policy in that debate.

Economists surveyed by The Wall Street Journal in October ranked Waller as their top preference among potential Fed chair candidates. Market participants view him favorably for articulating consistent arguments in support of rate cuts and for his ability to manage divisions within the central bank. Several of Waller’s themes have also shown up in broader Federal Reserve guidance, even as the committee debates how fast to move.

Despite that support, Waller is not widely viewed as the front-runner, in part because people close to Trump point to weaker personal ties with the president and frustration over Waller’s support for a half-percentage-point cut in September 2024. The political tension matters because the next chair will have to defend credibility inside the Fed and to markets.

Former Fed Governor Kevin Warsh and National Economic Council Director Kevin Hassett remain leading contenders. Treasury Secretary Scott Bessent said Trump is expected to interview one or two additional candidates and could announce a choice in early January, with Powell’s chair term ending in May 2026.

Trump Signals Openness on Regulator Seats at SEC and CFTC

Alongside the Fed chair search, Trump said he is open to nominating Democratic commissioners to fill vacancies at the Securities and Exchange Commission and the Commodity Futures Trading Commission. Both agencies operate under party-balance limits when fully seated, with rules that prevent more than three commissioners from the same political party.

The staffing gaps are real. The CFTC’s public roster currently lists Acting Chairman Caroline D. Pham as the only commissioner, after Democratic Commissioner Kristin Johnson departed in September 2025, leaving the agency short-handed. Crypto policy watchers track the CFTC because it sits at the center of U.S. derivatives oversight and a growing share of digital asset market debate.

Analysts have linked those vacancies to the pace of crypto market structure talks, since enforcement posture and rulemaking bandwidth can shift with commissioner lineups. Trump has also tested presidential control boundaries at other agencies, including firings that triggered legal fights over independent regulators.

Earlier: Trump to Name Fed Chair Before Christmas: Why Kevin Hassett Is the Favorite