#USFedNewChair As of August 8, 2025, Jerome Powell remains the Chair of the U.S. Federal Reserve, with his current term set to expire in May 2026 . No formal replacement has been announced yet.
Key Developments:
Stephen Miran, the current Chair of the Council of Economic Advisers, has been nominated by President Trump to fill a temporary vacancy on the Federal Reserve Board following the resignation of Adriana Kugler. If confirmed by the Senate, Miran will serve out the remainder of Kugler’s term, which ends on January 31, 2026 .
Meanwhile, Trump is actively exploring candidates for the next Fed Chair, whose term commences in May 2026. Governor Christopher Waller is emerging as a top contender, closely followed by Kevin Hassett and Kevin Warsh .
Summary Table
Position Current Status & Term Potential Interim/Replacements
Fed Chair Jerome Powell (term ends May 2026) No replacement yet; under consideration
Fed Board Governor Kugler resigned; Miran nominated (temp) Pending Senate confirmation until Jan 31, 2026
Next Fed Chair (2026) Open for term starting May 2026 Waller, Hassett, Warsh are potential picks
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