US EditionTrump administation narrows list of potential Federal Reserve chairs to 5
Five finalists include Fed governors and economic advisers as Trump aims to appoint a chair aligned with his economic goals by year-end, Treasury Secretary Scott Bessent said.
- On Monday, Treasury Secretary Scott Bessent confirmed the candidate pool has been narrowed to five finalists: Christopher Waller, Michelle Bowman, Kevin Warsh, Kevin Hassett and Rick Rieder, with a decision expected this year.
- With the Fed leadership transition looming, the administration aims to replace Jerome Powell as chair with a new appointee for the 14-year term starting Feb. 1, while Treasury Secretary Scott Bessent criticizes Fed policy during the search.
- Rieder brings longstanding Wall Street experience and oversees roughly $2.4 trillion in assets, while Waller and Bowman have recent dissents on rate cuts, and Warsh is a former Fed governor and Stanford lecturer.
- Fed policymakers are expected to act this week, widely expected to lower rates by 25 basis points at their two-day meeting concluding Oct. 29, while any nominee requires U.S. Senate confirmation.
- If Powell departs, Trump could appoint four members to the seven-member Board of Governors, while experts warn the shortlist signals big Fed changes next year and Peter Conti-Brown cautions against installing 'loyalists'.
127 Articles
127 Articles
Bessent Names the Trump Admin’s Five Finalists to Replace Powell as Fed Chair
Tom Williams/CQ Roll Call via APTreasury Secretary Scott Bessent told reporters on Monday that the Trump administration has narrowed its list of candidates to replace Jerome Powell as federal reserve chair to five finalists.Bessent, speaking aboard Air Force One, said he’s planning to conduct a second round of interviews in the next month and hopes to present a “good slate” to President Donald Trump after Thanksgiving.The final candidate pool in…
Associated Press News
Trump administation narrows list of potential Federal Reserve chairs to 5
Treasury Secretary Scott Bessent on Monday confirmed the names of five candidates to replace Jerome Powell as chair of the powerful Federal Reserve next year.
The Fed 5: Bessent's short list for Powell's job
Treasury Secretary Scott Bessent has whittled down his short list of candidates to replace Federal Reserve Chairman Jerome Powell to five individuals, he said on Air Force One, The Wall Street Journal reported.Some have connections to the central bank and the White House, while another is a Wall Street powerhouse.President Donald Trump has kept up his verbal criticism of Powell for not cutting interest rates fast or deep enough, calling the chai…
Bessent names Fed chair finalists ahead of year-end decision
Treasury Secretary Scott Bessent on Monday confirmed the names of five finalists to succeed Federal Reserve Chair Jerome Powell, with the president saying he expected to make his decision by year-end.
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