US President Donald Trump may decide on who the next chair of the country’s central bank – the Federal Reserve – will be as early as next week, US Treasury Secretary Scott Bessent says.
“My guess is that the president will reach a decision, maybe as soon as next week. We’ve had substantial conversations about this,” Bessent said in an interview with CNBC.
“We’ve run a process that started in September. Eleven very strong candidates. We’re now down to four counts. The president has personally met with all of them.”
Trump has sharply criticised Jerome Powell, whose term as Fed chair ends in May, for not lowering interest rates fast enough.
The leading four candidates for the role are Trump’s economic adviser Kevin Hassett, Fed governor Christopher Waller, former Fed governor Kevin Warsh and BlackRock’s chief bond investment manager Rick Rieder.
Powell, nominated by Trump in 2017, does not have to leave the Fed entirely after his leadership term ends in May, and he has not indicated what he will do.