Trump narrows Fed chair candidates to 4, excluding Treasury Secretary Bessent
The US president’s choice of who will replace central bank head Jerome Powell could reset the path of the country’s economy
US President Donald Trump said on Tuesday that he has whittled down his list of potential Federal Reserve chair candidates to four as he considers a successor to Jerome Powell – a choice that could reset the path of the US economy.
Asked on CNBC’s Squawk Box for a future replacement for Powell, Trump named Kevin Hassett, director of the National Economic Council, and Kevin Warsh, a former member of the Federal Reserve Board of Governors.
“I think Kevin and Kevin, both Kevins, are very good,” Trump said.
He said two other people were also under consideration, but US Treasury Secretary Scott Bessent is not among them.
“I love Scott, but he wants to stay where he is,” Trump said. He did not name his other two top candidates but used the opportunity to disparage Powell, whom he has dubbed “too late” in cutting interest rates.
The news that Trump plans to make a decision on the Fed chair “soon” comes as the Republican president has been highly critical of Powell, whose term ends in May 2026.