US EditionTrump Nears Decision on Federal Reserve Chair with Senate Confirmation Ahead
Trump is set to choose from five finalists for Fed chair, with Senate confirmation expected early 2026; choice could shift U.S. monetary policy and market reactions.
- On Sunday, US President Donald Trump said he has decided on his pick for Federal Reserve chair, while US Treasury Secretary Scott Bessent has finished vetting five finalists and the White House could announce before Dec. 25.
- President Trump has repeatedly criticised Jerome Powell for the pace of rate cuts, while the White House says it will choose on merit though advisers stress alignment with Trump's priorities.
- Kevin Hassett, National Economic Council Director, is the leading contender and has said he'd accept the role, while markets briefly pushed the 10-year Treasury yield below 4% after his frontrunner reports.
- With the December FOMC meeting on December 9, markets are watching the White House selection closely, as the nominee must undergo Senate confirmation early in 2026 and could start a 14-year Fed term on February 1, 2026.
- Given split views inside the central bank, the appointment could redefine U.S. monetary policy direction for years, as Fed officials manage inflation not fully stabilised and uneven growth, and Powell's term as chair ends in May 2026, creating a potential additional Board vacancy.
57 Articles
57 Articles
DECRYPTAGE - The White House economic advisor is poised to succeed Jerome Powell, strongly criticized by the US president for having too late to lower interest rates.
Trump Says New Federal Reserve Chair To Be Announced Early Next Year
President Donald Trump said on Tuesday he would be announcing his selection for the next chair of the Federal Reserve early next year. In remarks at a cabinet meeting, Trump also said Treasury Secretary Scott Bessent does not want that job. — (Reporting by Katharine Jackson and Jeff Mason ) The post Trump Says New Federal Reserve Chair To Be Announced Early Next Year appeared first on GV Wire.
Who is Kevin Hassett? The rumored Fed pick says inflation is ‘way down,’ sees ‘political bias’ in jobs data, and suggested firing Powell over a renovation
“If you’d asked me a year ago, I would have said I think Kevin would be a good pick. I wouldn’t say that today. Kevin has been incredibly dishonest.”
Trump says he has made his choice for next Fed chair: ‘I know who I’m going to pick’
President Trump said he has made his choice for the next Federal Reserve chair, signaling he will soon name a successor for Jerome Powell, whom he has blasted for months for failing to cut interest rates quickly.
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