US EditionTrump administation narrows list of potential Federal Reserve chairs to 5
- 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'.
137 Articles
137 Articles
Treasury Secretary Scott Bessent confirmed Monday the names of five candidates to replace Jerome Powell as president of the powerful Federal Reserve next year. On a flight to Asia on the Air Force One with President Donald Trump, Bessent said he would participate in a second round of interviews in the coming weeks and present a “good list” of candidates for Trump “just after Thanksgiving.” Trump said he hoped to decide on Powell’s replacement by…
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…
Bessent has come to reduce the list of potential candidates for the leadership of the Fed after his own name has been included in it — and then excluded by President Trump.
Associated Press News
Trump administration 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.
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