What exactly is the White House trying to do?

　　Behind this increasingly lengthy list, many industry insiders have actually always been skeptical about the openness of the Fed Chair selection process—they believe that Trump will ultimately still not choose someone he doesn't know or who isn't loyal to him. Trump would also want to seek assurances that the next Fed Chair would agree to his demand for a 150 to 175 basis point interest rate cut.

　　Jefferson was formerly from academia and, as Vice Chair of the Federal Reserve Board, is also a member of Powell's inner circle. More importantly, he was appointed to the position by former President Biden. Logan, on the other hand, has always been known among Fed officials for her cautious stance on interest rate cuts.

　　For Trump, who wants to push the Fed to significantly cut rates, it is hard to imagine him ultimately choosing these two as Powell's successors. So why would the White House add these two to the selection list?

　　Regarding this, Derek Tang, co-founder of LHMeyer/Monetary Policy Analytics, said the list might provide the White House with an excuse—to meet with those Fed officials who do not support rate cuts.

　　"This seems milder than summoning them directly to the White House for a reprimand," Tang pointed out. "They can have frank discussions about why these Fed officials think the Fed should not ease policy," he added.

　　A consensus among many Wall Street analysts is that the list itself is actually another attempt by Beshent to pressure Powell for looser policies. "Arguably, this might be to push Jefferson and Logan in a more dovish direction," Duy said.

　　Stephen Myrow, Executive Partner at Beacon Policy Advisors, stated that Beshent's team is "trying to exert influence where they can to put pressure on Powell. Ultimately, they have to wait until next May to control the chairmanship, but they want rates to start falling now."

　　Duy pointed out that Beshent is working to create more market movement to push for rate cuts, and this move has already had an effect. "I think he has influence in the interest rate market and is, arguably, already acting as a shadow chair."