Show loyalty before the election? Federal Reserve chairman candidates attack Powell as election approaches

As the White House nears confirmation of a successor to the Federal Reserve Chairman, two popular candidates, Kevin Walsh and Hassett, made a rare public criticism of current Chairman Powell's policy orientation over the weekend, making the originally low-key selection process a fierce competition.
Former Federal Reserve Governor Vosh commented, accusing the Fed of "defending mistakes rather than correcting them," saying it fell into "the inertia of maintaining the status quo." He criticized Powell's decision as "unwise" and believed that productivity improvements and AI-driven innovation provided impetus for economic growth but were suppressed by current monetary policy. Walsh advocates shrinking balance sheets and lowering interest rates, and denies the traditional belief that "strong growth inevitably brings inflation."
Hassett, director of the White House National Economic Council, later spoke highly of Walsh's criticism in an interview and said that the Fed "made a lot of policy mistakes" and needed to "turn a new page." He stressed that the central bank should remain independent and data-oriented, and also hinted that the timing of announcing candidates may depend on "when Powell announces his resignation," although Powell has repeatedly reiterated that he will not step down early.
U.S. Treasury Secretary Basent has confirmed that the candidate list has been reduced to five people, including Walsh, Hassett, Federal Reserve Governors Waller and Bowman, andBlackRock executive Rick Riddle.The final list is expected to be submitted to Trump after Thanksgiving and the decision will be announced at the end of December. Current Federal Reserve Chairman Powell's term will expire in May 2026.