Treasury Secretary Scott Bessent has conducted interviews during the past few weeks to find Fed Chair Jerome Powell’s successor, with the list now narrowed down to five candidates, senior Treasury officials told CNBC.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
The five contenders are Fed Governors Christopher Waller and Michelle Bowman, National Economic Council Director Kevin Hassett, former Fed Governor Kevin Warsh, and BlackRock (BLK) Fixed Income CIO Rick Rieder.
Bessent Set to Lead Final Interviews Before Trump Makes the Final Call
The next round of interviews will take place over the coming weeks and months, although the Treasury officials said they might not begin until after Thanksgiving due to other commitments from Bessent. After the interviews, Bessent will then brief President Trump, who will make the final decision.
In addition, Trump’s choice will likely be first nominated as a Fed Governor before being elevated to Chair, which could occur as early as January. Powell’s term as Chair is set to end in May, although his term as Governor continues until January 31, 2028.
Stay ahead of macro events with our up-to-the-minute Economic Calendar — filter by impact, country, and more.