Who Is Trump's Pick to Lead the Fed?
US President Donald Trump said he will announce his Federal Reserve Chair selection on Friday morning, ending months of speculation about Jerome Powell's replacement.
Trump said the pick "won't be too surprising" and is a well-known figure in the financial world. He also indicated that his candidate is someone who "should have been in office a few years ago."
According to reports, four names are on the shortlist: NEC Director Kevin Hassett, Fed Governor Christopher Waller, former Fed Governor Kevin Warsh, and BlackRock executive Rick Rieder.
The selection is significant because Trump has publicly expressed his desire for the next Fed Chair to lower interest rates more quickly and aggressively, in line with his preference for lower borrowing costs.
The selection process is reportedly being led by Treasury Secretary Scott Bessent, who helped narrow down the candidates to a final four.
However, Trump's nominee could face a bumpy road in the Senate. Republican Senator Thom Tillis has said he will block the Fed nominee until the investigation into the Fed headquarters renovation is resolved—which has also raised concerns about the central bank's independence.
This announcement comes after the Fed left interest rates unchanged after three cuts in the final months of 2025, allowing the market to assess whether Trump's choice could potentially alter the direction of monetary policy going forward. (asd)
Source: Bloomberg.com
