"Key senators such as Republican Banking Committee member Thom Tillis have warned that Trump's Fed picks will get more scrutiny after the Justice Department subpoenaed the Fed last week over statements by Chair Jerome Powell related to a renovation project at the bank's headquarters. But Powell, whose term expires in May, contends the criminal probe is a pretext to punish him for not cutting rates quickly enough."
"Trump's interview Thursday with Rieder went well, the people said, speaking on condition of anonymity to discuss the private deliberations. Trump, asked Friday about the selection process, said he had a candidate in mind, while declining to name him. "I think I have it - in my mind, done," he said. The search is now a four-man race, some of the people said, among Rieder, National Economic Council Director Kevin Hassett, Fed Governor Christopher Waller and former governor Kevin Warsh, the people said."
Rick Rieder's candidacy for Federal Reserve chair has gained momentum as President Donald Trump weighs his choice. Trump interviewed Rieder Thursday and the interview went well, according to people speaking on condition of anonymity. Key senators such as Thom Tillis warned that Fed nominees will face increased scrutiny after the Justice Department subpoenaed the Fed over Chair Jerome Powell's statements related to a renovation project at the bank's headquarters. Powell's term expires in May and he says the criminal probe is a pretext to punish him for not cutting rates. The search includes Rieder, Kevin Hassett, Christopher Waller and Kevin Warsh.
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