Fed Chair Search Expands to Include Bowman, Jefferson and Logan

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.The Federal Reserve’s two vice chairs, Michelle Bowman and Philip Jefferson, and Dallas Fed President Lorie Logan are under consideration to serve as chair of the central bank when the position opens next year, according to two administration officials.Treasury Secretary Scott Bessent, who is running the search, will interview additional candidates in the coming weeks, said the officials, who were granted anonymity to speak candidly about the process. The president is expected to make his final announcement this fall, they said.Others who remain under consideration include Kevin Hassett, a close economic adviser to Trump, Fed Governor Christopher Waller, economist Marc Sumerlin and former Fed officials Kevin Warsh and James Bullard, the people said.Last week, Trump nominated Stephen Miran, chair of the White House’s Council of Economic Advisers, to fill a seat on the Fed’s Board of Governors that expires at the end of January. The post opened when Adriana Kugler announced her early departure.With Miran’s nomination headed to the Senate for confirmation, the Trump team doesn’t feel the need to rush the search for a chair, the officials said. Bessent will interview all the candidates for chair, and then make a recommendation to the president on a short-list to meet with, the officials said.Today's show features: Bloomberg Economics Editor Molly Smith on the week ahead in economic data Ed Price, Senior Non-Resident Fellow at New York University and Former British Trade Official on the upcoming meeting between President Donald Trump and Russia’s Valdimir Putin in Alaska Jordan Klein, Managing Director at Mizuho Securities USA, on the news that Nvidia and Advanced Micro Devices will pay 15% of their revenues from Chinese AI chip sales to the US government in order to secure export licenses. Drive to the Close with Lauren Sanfilippo, Director, Senior Investment Strategist at Merrill and Bank of America Private Bank on the market and economic outlook See omnystudio.com/listener for privacy information.

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