The race for the next Federal Reserve (Fed) chair is entering its final stage, as Donald J. Trump prepares to begin interviews this week with candidates vying to lead the U.S. central bank.
According to a report by the Financial Times, Treasury Secretary Scott Bessent has submitted a shortlist of top contenders to the White House, and a meeting is scheduled on Wednesday with former Fed governor Kevin Warsh.
Alongside Warsh, the leading candidate remains Kevin Hassett, Director of the White House’s National Economic Council.
Also on the table are current Fed governors Christopher Waller and Michelle Bowman, as well as Rick Rieder, the global fixed-income chief at BlackRock, all former or current Trump nominees.
The selection carries high stakes. Fed Chair Jerome Powell’s term ends in May 2026, and the next chair may be confirmed in time to guide the bank as the U.S. weathers inflation pressures and evolving economic risks.
President Trump has signaled that quick interest-rate cuts will be a key litmus test for his pick, a stance that aligns with Hassett’s publicly stated preference for lower rates. Still, despite being the front-runner, Hassett is not assured of the job.
The FT notes that the final decision may rest on a combination of internal deliberations and whether the candidate can garner enough support in the Senate, where confirmation is required.
As the interviews begin, financial markets and policymakers will be watching closely; the choice of the next Fed chair could reshape U.S. monetary policy and affect global economic and financial dynamics for years to come.