The U.S. Treasury Secretary confirms that interviews for the next Federal Reserve Chair will begin after Labor Day, with President Trump aiming to align the central bank's leadership with his economic agenda.
Treasury Secretary Scott Bessent confirmed the start of interviews to identify a successor to Federal Reserve Chair Jerome Powell after Labor Day, with 11 candidates under consideration. The process is overseen by President Trump, who aims to realign the Fed with his economic priorities. Powell’s current term ends in 2026, but the administration plans to install new leadership after that. Markets are closely monitoring the process, with speculation of a September rate cut following Powell's recent remarks on labor market risks.