Federal Reserve Governor Christopher Waller has moved to the front of President Donald Trump’s short list to succeed Jerome Powell as chair of the U.S. central bank, Bloomberg News reported, citing people familiar with the deliberations. Waller has met with members of Trump’s team but not with the president, whose advisers want a replacement in place when Powell’s term ends in May 2026. Trump aides are said to be impressed by Waller’s willingness to base policy on economic forecasts rather than exclusively on current data and by his intimate knowledge of the Fed’s operations. At the July Federal Open Market Committee meeting, Waller and Vice Chair Michelle Bowman dissented in favor of a quarter-percentage-point rate cut, aligning with Trump’s repeated calls for lower borrowing costs. Kevin Hassett, head of the National Economic Council, and former Fed governor Kevin Warsh remain under consideration, according to the same sources. White House spokesman Kush Desai cautioned that any personnel discussion not coming directly from the president should be regarded as speculation. Treasury Secretary Scott Bessent, Vice President JD Vance and Commerce Secretary Howard Lutnick are helping to vet candidates. Markets reacted quickly to the news. Prediction-market odds on Waller becoming chair rose to roughly 40% from 10% the previous day, and the U.S. Dollar Index remained firm above 98.00. A formal nomination would still require Senate confirmation.