President Trump hinted that he has already decided on a candidate to replace Fed Chair Jerome Powell upon the expiration of his term in May 2026.
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“I think I already know my choice,” Trump told reporters in the Oval Office on Tuesday. “I’d love to get the guy currently in there out right now, but people are holding me back.” Trump added that his list of candidates includes both “surprising” and “standard” names and that “we may go the standard way.”
Hassett Leads Odds to Succeed Powell
Last month, Treasury Secretary Scott Bessent, who is overseeing the candidate interviews, said that he had narrowed down the search to Fed Governors Chris Waller and Michelle Bowman, former Fed Governor Kevin Warsh, White House National Economic Council Director Kevin Hassett, and BlackRock’s (BLK) CIO of Global Fixed Income, Rick Rieder. Bessent will present his recommendations to Trump after Thanksgiving.
Hassett has a 48% chance of being selected by Trump to succeed Powell on prediction platform Polymarket, followed by Waller at 20% and Rieder at 12%.
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