What was once seen as a near-certain cut in interest rates next month now looks more like a coin flip as Federal Reserve officials sharply disagree over the economy’s health and whether stubborn inflation or weak hiring represent a bigger threat.

In September, Trump said his top three candidates were Hassett, former Fed official Kevin Warsh, and current governor Christopher Waller.

President Trump has a list of five finalists to replace outgoing Fed Chair Jerome Powell. Here's a look at each one.

Because the number of meetings has changed over time and the FOMC does not always have 12 voters, I have collated the annual dissent rate in the chart below. The Fed generally reaches consensus, with only 15 per cent of voters dissenting in the peak year of disagreement in 1979. That is the equivalent of a 10-to-two vote.

Investors have largely been focused on the likelihood of a December rate cut from the Federal Reserve, as well as the chances of further easing in 2026. But there's another move by the central bank that may be on the way in January.