- President Trump is narrowing his short list to replace Jerome Powell as Fed chair. Kevin Warsh, Kevin Hassett, and Christopher Waller are emerging as top contenders; all are seen as more amenable to interest rate cuts. Trump confirmed Treasury Secretary Scott Bessent declined the role, saying, “I want to work with you,” while market-watchers weigh how each candidate could impact Fed independence and dollar strength.
In 12 months’ time a different hand will be guiding the Federal Reserve. Chair Jerome Powell is due to stand down in May of next year. Different—not new—because some of the candidates President Trump may be eyeing for nomination are already well-known figures in regional and central banking.
