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U.S. Treasury Narrows Federal Reserve Chair Candidates to Five

U.S. Treasury Narrows Federal Reserve Chair Candidates to Five

Treasury Secretary Scott Bessent’s list includes two current Fed governors and three prominent economic figures, with recommendations to President Trump expected in the fall.

Summary

Treasury Secretary Scott Bessent has finalized a shortlist of five candidates for the Federal Reserve Chair position: Christopher Waller, Michelle Bowman, Kevin Warsh, Kevin Hassett, and Rick Rieder. The list features two sitting Fed governors, a former Fed governor, a past Council of Economic Advisers chair, and a senior asset management executive. Recommendations will be submitted to President Donald Trump later this fall ahead of Jerome Powell’s term ending in May next year.

Terms & Concepts
  • Federal Reserve Chair: The head of the U.S. central bank, responsible for overseeing monetary policy and guiding the Federal Reserve System.
  • Shortlist: A reduced list of candidates selected from a larger pool, considered for final decision-making.