Bessent says interviews for ‘incredible group’ of potential Fed chairs will start after Labor Day
Treasury Secretary Scott Bessent said on Tuesday, the White House will start to meet with the Federal Reserve Chair candidates as soon as he was destroyed by a crowded area.
In an interview with CNBC “Squawk Box”, Bessent confirmed that Jerome Powell, the replacement of the current chair, is a series of 11 candidates, past and current Central Bank officials and economists, a White House Advisor and a few Wall Street market experts.
“In terms of the interview process, we’ve heard 11 very strong candidates. I will probably meet them, start downloading the list to present the workers’ festival and president Trump.” He said. “An amazing group.”
This list is believed to include the current governors Michelle Bowman and Christopher Waller, Dallas Fed President Lorie Logan, White House economist Kevin Hassett and former Governor Kevin Warsh. Strategists Blackrock Rick Rieder and David Zarvos of Jefferies are part of the group and economist Marc Sumerilin, former Governor Larry Lindsey and former St. Louis Fed President James Bullard.
Although Powell’s term does not end until May 2026, the White House is eager to move the process because it forces an urgent need for interest rate deductions.
Bessent said that Moribund would help the US housing market and reiterated the desire of the administration to alleviate. Sales and the new building were weak, low inventory prices are higher.
“What kind of inflation does it create after a restriction on the house building?” he said. “Therefore, a large segment here can facilitate an explosion or turntable in the house building, which will keep the prices below for two years.”
The FED did not have a policy meeting until September 16-17, and since December 2024, the first quarter percentage score reducing the score of the first quarter, a manufacturer showing the biggest monthly increase in July in July, because it was not worried about reading the price index, because it attributed an increase in portfolio FEs connected to higher stock market values.
Before then, Powell will give Fed’s latest opening speech at the Fed’s annual symposium in WYO.
