Treasury Secretary Scott Bessent stated on Tuesday that President Donald Trump has a “very good chance” of naming a new Federal Reserve Chair prior to Christmas.
Bessent revealed that the final interview of the second round of candidates was scheduled for the same day; he said there were five strong contenders under consideration. Jerome Powell’s term as Fed Chair ends in May 2026, which provides the administration with time—but Trump appears eager to make a change sooner.
According to reports, the current shortlist being discussed includes:
- Kevin Hassett (Director of the National Economic Council)
- Kevin Warsh (former Fed Governor)
- Christopher Waller (Fed Governor)
- Michelle Bowman (Fed Governor)
- Rick Rieder (BlackRock executive)
Bessent emphasized that while the timeline is moving quickly, the decision ultimately lies with President Trump: “It’s his prerogative, whether it’s before the Christmas holidays or in the new year. But I think things are moving along very well.”
