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Who’s in line for the Fed’s top job? Leading contenders and what you need to know about them
The approach of 2026 is sharpening attention on one of the most consequential decisions in US economic policy: who will lead the Federal Reserve after Jerome Powell’s term ends in May. President Donald Trump has said he plans to announce his choice early next year, bringing to a head months of public criticism of Powell over interest rates and the central bank’s reluctance to ease policy more aggressively. Trump’s frustration with Powell has been a recurring theme of his presidency, with the president repeatedly arguing that lower rates are needed to boost growth, markets and employment. The looming transition ... (full story)
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Today’s SriKonomics focuses on two related developments that deserve more scrutiny than they have received so far. First, the initial set of official employment and inflation reports released last week were deeply flawed and should not be over-interpreted. Second, a growing number of individuals positioning themselves as potential candidates for the Federal ...
FED'S HAMMACK SEES RATES ON HOLD FOR 'SOME PERIOD OF TIME' HAMMACK TAKES NOVEMBER'S COOLER INFLATION DATA 'WITH A GRAIN OF SALT' ... HAMMACK: POLICY MAY ALREADY BE BELOW NEUTRAL, PROVIDING STIMULUS How This Fed Hawk Views the Economy, Inflation, AI and Jobs https://www.youtube.com/watch?v=Y5I4mSQQxik&list=PLRNktCZa_EIJjZf5ZSbfUw8tKBLiPMTXk In this week’s episode of WSJ’s Take On the Week, co-host Telis Demos and guest host WSJ Chief Economics Correspondent Nick Timiraos are joined by Beth Hammack, president of the Federal Reserve Bank of Cleveland, to discuss the state of the U.S economy, interest rates and the central bank itself. Hammack shares her views on what she’s hearing from businesses in her district and what that could mean for consumer prices and the labor market. She emphasizes the importance of Fed independence and the chairman’s role in fusing differing viewpoints to create stable monetary policy. She also offers her perspective on the so-called neutral rate as well as artificial intelligence. At the end of the episode, Telis and Nick analyze the interview, offering their takes on the outlook for tariffs, inflation and jobs. They also break down what influence the new Fed chair will have on the central bank’s rate-setting committee and how markets may react to the nominee.
Gold rose to an all-time high on heightened geopolitical tensions and expectations for more Federal Reserve rate cuts. Silver also climbed to a record and platinum advanced for an eighth straight session. Spot gold strengthened beyond a previous peak above $4,381 an ounce set in October, having gained for the last two weeks. Traders are betting the Fed will ...
