The competition for the Fed chair is spreading to Washington and Wall Street. This is worth a look at a recent article by Nick in the Wall Street Journal, which claims to present the viewpoint of a "new Fed press agency." The core of it is that Wall Street figures and Trump allies are quietly lobbying to support the candidates they favor for the next Fed chair. The current competition is focused on two Kevins (Kevin Hassett and Kevin Warsh). Trump has previously expressed private dissatisfaction with Warsh, but one of Warsh's interviews left a deep impression on Trump.

The article cites sources familiar with the matter stating that some insiders on Wall Street have been rallying for Waller, with the aim of pushing Hassett out, due to Hassett's close ties to Trump. However, Waller's weakness is that he is so eager for the job that his commitment to cutting rates may not be genuine. If the situation turns unfavorable, Waller is unlikely to proactively cut rates like Hassett.

In the article, Nick quotes a survey showing that 81% of people (business executives) express a desire for Waller to serve as the Fed chair, while the two Kevins split the remaining votes. Waller's inclusion on the candidate list is noteworthy because, although he has no ties to Trump, he offers something that other candidates lack: a logically sound argument for interest rate cuts and achievements in quietly promoting systemic reform—something that Trump, Bowers and Walsh have all stated should be a priority.

Overall, it actually means:

Hassett: The most obedient, but the market trusts the least (White House strongly promotes)

· Wosh: The market is more recognized, but the ambition is too obvious (strongly promoted by Wall Street)

· Waller: the most independent, but least familiar with Trump

The next Fed chairman needs to balance independence with cooperation with Trump's policies. The balance between independence and loyalty is actually

In my opinion, Hassett has a significant chance of winning. Trump cannot afford to choose a chairman who appears to cooperate but is increasingly becoming centrifugal in nature. Although right now, Waller and Walsh are gaining a lot of support on Wall Street and among entrepreneurs, and there is much discussion in public opinion, these may all be distractions from the White House, allowing the market to fully digest various potential negatives. In the end, Trump will choose the next chairman based on the degree of cooperation with him $BTC .