According to TechFlow news on July 4, reported by Jin Ten Data, U.S. Treasury Secretary Mnuchin stated that there are many excellent candidates for the Federal Reserve Chairman, and work on this will begin in the fall. Previously, according to a Wall Street Journal report on June 25, U.S. President Trump was considering nominating the next Federal Reserve Chairman early to undermine the influence of current Chairman Powell, who has 11 months left in his term as Federal Reserve Chairman.
Informed sources reveal that Trump is considering selecting and announcing Powell's successor before September or October, "and Trump's anger towards Powell may lead him to announce a successor earlier this summer." Trump is considering former Federal Reserve Governor Kevin Walsh and White House National Economic Council Director Kevin Hassett. Additionally, informed sources reveal that someone has recommended Treasury Secretary Mnuchin as a potential candidate; other competitors include former World Bank President Malpass and Federal Reserve Governor Christopher Waller.