Who are the frontrunners for the top Fed job?

What’s Happening

Okay so Donald Trump is because of name a new leader of the Federal Reserve at a tricky moment.

Who are the frontrunners for the top Fed job? 19 minutes ago Save Danielle Kaye Business reporter Save Reuters The high-stakes search for a new leader of the US central bank is drawing to a close. (it feels like chaos)

US President Donald Trump is expected to name someone in the coming weeks to replace Jerome Powell, whose term as Federal Reserve chairman will end in May.

The Details

That person will step into the role at a tricky moment. The bank is contending with both political pressure and internal disagreement about how it should set interest rates in the months ahead.

Credibility concerns could make the job even harder. Trump has made clear he wants lower borrowing costs and put unusual pressure on the Fed, raising questions about whether whoever wins the post will act independently.

Why This Matters

Trumps nominee would then go to the Senate for confirmation. Heres what to know about the frontrunners. Kevin Hassett, a Trump loyalist Reuters Kevin Hassett, a long-time conservative economist and key Trump economic adviser, is seen as a top contender to succeed Powell.

The business implications here could be significant in the coming months.

The Bottom Line

His allegiance to the president has drawn questions from analysts about whether he would act independently at the Fed and how much sway he would have with other members of the board. In a research note, Deutsche Bank economists wrote that Hassett might struggle, at least initially, to convince other policymakers to put aside concerns about inflation and cut rates meaningfully.

Is this a W or an L? You decide.