Trump may reach Fed chair decision next week: Bessent
US Treasury Secretary Scott Bessent said that US President Donald Trump may decide as of next week who will be the next head of the country’s central bank (Fed).
“My guess is that the President will come to a decision as soon as perhaps next week. We’ve had important discussions on this,” Bessent said in an interview with CNBC.
“We carried out a process that started in September. 11 very strong candidates. We currently have four left. The President met with all of them personally.”
Trump harshly criticized Jerome Powell, whose Fed presidency ends in May, for not cutting interest rates fast enough.
The four leading candidates for the role are Trump economic adviser Kevin Hassett, Fed governor Christopher Waller, former Fed governor Kevin Warsh and BlackRock’s chief bond investment officer Rick Rieder.
Powell, whom Trump nominated in 2017, does not have to leave the Fed completely after his leadership term ends in May, and he has not specified what he will do.
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