Trump Administration Narrows Federal Reserve Chair Contenders to Five for Year-End Decision

The Trump administration has shortlisted five candidates to replace Jerome Powell as chair of the Federal Reserve, whose term ends in May 2025. The finalists are current Fed governors Christopher Waller and Michelle Bowman, former Fed governor Kevin Warsh, White House National Economic Council Director Kevin Hassett, and BlackRock's Rick Rieder. Treasury Secretary Scott Bessent, leading the search, plans a second round of interviews before recommending a candidate to President Trump, who aims to announce his pick by the end of the year. Among the candidates, Hassett and Warsh are viewed as frontrunners due to their close ties to Trump, while Waller and Bowman bring current Fed leadership experience. The new chair appointment requires Senate confirmation and is expected to influence financial markets and the Fed's monetary policy direction. Trump has criticized Powell's handling of interest rates and is seeking a successor aligned with his economic views.