The Trump DOJ's criminal investigation of the Fed could roil the contest over who succeeds Powell https://www.wsj.com/economy/central-banking/trump-fed-chair-nominee-search-powell-bb5dba1d?st=TFHDbS&reflink=desktopwebshare_permalink • Thom Tillis suggested that candidates seen as closer to Trump would face harder questions about their independence. Picking Fed governor Christopher Waller, who is one of four contenders for the job and who doesn’t have a close relationship with the president, “would certainly address a lot of the concerns,” said Tillis. • Trump has kept his own advisers guessing. One person familiar with the process said the contest remains between the two Kevins, Warsh and Hassett, and the front-runner “sort of depends on the day.” While the president recently indicated to advisers that he might prefer keeping Hassett in his current post because he likes how Hassett defends his policies on television, other advisers have been working on identifying a new NEC director if Hassett leaves for the Fed. • Some Trump allies who have supported both Hassett and Warsh for the job said any escalation in the criminal investigation could further tarnish Hassett’s standing with the Senate and his future Fed colleagues given his White House role. These people said that could give Warsh an edge by leaving him in relatively better standing with lawmakers and central bank insiders. w/@siobhanehughes @jdawsey1(Nick Timiraos)