#NextFedChairCandidate

Here’s the latest on potential nominees to succeed Jerome Powell as Federal Reserve Chair when his term expires in May 2026:

🏛️ Trump’s “Shadow Fed Chair” Strategy

Former President Trump has publicly stated he’s considering naming a successor well before Powell’s term ends—possibly as early as summer or fall 2025—in an effort to shape market expectations and influence Fed policy .

Critics warn this maneuver may threaten the Fed’s independence and unsettle markets .

🔍 Leading Contenders

According to multiple current reports, Trump’s short list includes:

Candidate Position & Profile Policy Stance

Kevin Warsh Former Fed governor (2006‑2011), ex-Morgan Stanley banker Generally hawkish; supportive of lower rates recently; familiar with Trump’s inner circle

Christopher Waller Current Fed Governor Showed dovish leanings, signaling openness to rate cuts

Kevin Hassett Former National Economic Council head, Trump loyalist Broadly aligned with Trump’s growth policy

Scott Bessent U.S. Treasury Secretary, former hedge fund manager Gaining momentum among advisors; seen as credible yet friendly to Trump’s ideologies

David Malpass Former World Bank President Mentioned by WSJ; less emphasis on his current interest

⚠️ Market & Institutional Reactions

The U.S. dollar dropped to a 3-year low following speculation of an early nomination .

Analysts warn that naming a successor early could undermine Fed autonomy, creating confusion or uncertainties in monetary policy .

While Trump has criticized Powell’s cautious approach, recent Supreme Court rulings have highlighted the legal protections around chair removal .

📌 Timeline to Watch

Powell’s term ends May 15, 2026 — any official appointment will need Senate confirmation well before then .

Trump may make an announcement as early as summer/fall 2025, with September–October cited most often .