Will the Federal Reserve's "Crown Prince" be replaced? Trump endorses Wosh, who rises to the top of the list of candidates for the next Federal Reserve Chair

On December 13, according to The Wall Street Journal, U.S. President Trump stated on Friday that Kevin Warsh has risen to the top of his list of candidates for the next Federal Reserve Chair, although other candidates are still in the running. Previously considered a candidate on Trump’s list but not the most popular, Warsh (who has served as a Federal Reserve Governor) apparently gained further favor after meeting with Trump on Wednesday. “Yes, I think he is,” Trump said in an interview released on Friday afternoon when asked if Warsh is the leading candidate. When discussing the widely favored candidate Kevin Hasset, Director of the National Economic Council, Trump said, “I think both Kevins are great.” “I believe there are also several other excellent candidates,” he added. Hasset had previously been the frontrunner. In public, when asked about the possibility of taking on the role, he has been cautious, only saying he would accept if invited. Massachusetts Democratic Senator Elizabeth Warren said on CNBC on Thursday that she is worried Trump might appoint a “puppet” as Federal Reserve Chair to carry out his wishes. Besides emphasizing the possibility of Warsh getting the position, Trump reiterated his past view that the Federal Reserve Chair should consult the President on interest rate decisions. This move would undermine the traditional independence of the Federal Reserve.