Treasury Secretary Bessent Leads Search for Next Fed Chair as Powell’s Term Nears End
2025-06-30 19:41:54
Main Idea
Treasury Secretary Bessent is leading the search for the next Federal Reserve Chair as Jerome Powell's term ends in May 2026, with potential candidates including Kevin Warsh, Kevin Hassett, Christopher Waller, and David Malpass.
Key Points
1. Jerome Powell's term as Federal Reserve Chair concludes in May 2026, and President Donald Trump is expected to announce a successor soon.
2. Potential candidates for the next Fed Chair include Kevin Warsh, Kevin Hassett, Christopher Waller, and David Malpass.
3. Treasury Secretary Bessent is a key advisor in the selection process and is also being considered for the role.
4. The expedited selection process could unsettle financial markets, adding complexity to the decision.
5. The new Fed Chair is expected to align the Federal Reserve more closely with Trump’s economic agenda.
Description
Treasury Secretary Scott Bessent is actively involved in selecting a replacement for Federal Reserve Chair Jerome Powell, whose term concludes in May 2026, with President Donald Trump expected to announce a successor imminently. Powell Successor Expected Soon; Bessent Warns of Market Risks Treasury Secretary Scott Bessent is playing a pivotal role in the process of
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