President Trump is reportedly considering announcing a successor to Federal Reserve Chair Jerome Powell before the festive season, as revealed by Treasury Secretary Scott Bessent on Tuesday.
Bessent, who is spearheading the search for a new leader of the Federal Reserve, mentioned in an interview with CNBC that he has one more candidate to interview and refrained from speculating on the final choice.
According to Sean Hannity, Bessent hinted that a decision might be imminent. "I think theres a very good chance that the president will make an announcement before Christmas," Bessent stated. "But its [Trumps] prerogative, whether its before the Christmas holidays or in the new year. But I think things are moving along very well."
The list of potential candidates includes notable figures such as Kevin Hassett, Director of the National Economic Council; Kevin Warsh, a former Fed Governor; Christopher Waller and Michelle Bowman, both current Fed Governors; and Rick Rieder, Chief Investment Officer for global fixed income at BlackRock.
President Trump has been vocal in his criticism of Powell, accusing him of being sluggish in implementing rate cuts. Although Powell's term is set to conclude in May 2026, Trump has expressed a desire to expedite his departure, stating he would "love" to see him removed sooner.
This potential change at the helm of the Federal Reserve underscores the administration's commitment to pursuing a more aggressive monetary policy, aligning with conservative principles of fostering economic growth through decisive action.
Login