Trump-backed Fed Governor Christopher Waller emerges as top candidate to replace Powell as Fed Chair.

Federal Reserve Governor Christopher Waller is emerging as a top candidate to replace Jerome Powell as Fed chair, favored by the Trump administration for his support of aggressive rate cuts. Waller's odds of becoming chair have surged on betting platforms. He has dissented from the Fed's decision to keep rates steady, advocating for immediate cuts based on forecasts. Trump is also considering other candidates for a Fed board vacancy.