Trump Ready to Pick a New Fed Chair: Who Will Win?
President Donald Trump said he plans to decide on the next Fed Chair before the end of the year. He made this statement to reporters while flying on Air Force One, indicating that the process is in its final stages and that this major political decision will be made in the next few weeks, not next year.
According to US Treasury Secretary Scott Bessent, the list of candidates has now been narrowed down to five names: Kevin Hassett, Kevin Warsh, Christopher Waller, Michelle Bowman, and Rick Rieder. Bessent confirmed that these names are indeed serious candidates and are being considered by Trump.
The five names represent a variety of policy styles. They include internal Fed figures like Christopher Waller and Michelle Bowman, those close to the White House like Kevin Hassett, former Fed official Kevin Warsh, and even major market players like Rick Rieder from Wall Street. Many of them are considered more "dovish," meaning they favor lower interest rates—something that aligns with Trump's desire to lower borrowing costs in the US economy.
The urgency of selecting a new Fed chair is heightened as Jerome Powell's term ends in May 2026, and Trump has long criticized the Fed's stance on interest rates, which he considers too high. The current administration wants to ensure the Fed chair is filled by someone who aligns with Trump's economic agenda. That's why Bessent said the final shortlist will be given to Trump after Thanksgiving so the president can interview them in person and make a decision. (asd)
Source: Newsmaker.id
