The Trump administration is evaluating 11 potential candidates to succeed Federal Reserve Chair Jerome Powell, including previously undisclosed names such as David Zervos and Rick Rieder, before Powell's term ends in May 2025.
This decision could significantly affect U.S. interest rates, creating a ripple effect across global financial and cryptocurrency markets, potentially impacting asset prices and investor sentiment.
Trump Broadly Seeks to Replace Fed Chair
President Trump has expressed dissatisfaction with Jerome Powell's tenure, calling his decisions slow and poor. Among the 11 candidates, previously undisclosed names such as David Zervos, Larry Lindsey, and Rick Rieder have emerged, indicating that the administration is actively seeking the next Chair of the Federal Reserve.
"We are currently reviewing a large list," David Zervos stated, emphasizing the exploratory phase of the administration. This list also includes prominent figures such as Fed Vice Chair Philip Jefferson and Michelle Bowman, and Fed Dallas President Lorie Logan.
Trump's search for a new Chair of the Federal Reserve (Fed) takes place against a backdrop of challenging economic conditions. This selection may imply a change in the outlook for monetary policy, affecting U.S. Treasury yields and market risk sentiment, with potential spillover effects on various other financial markets, including cryptocurrencies. Past transitions have often led to increased market volatility.
Market participants are closely monitoring the situation, anticipating how changes in Fed policy might affect cryptocurrency assets like Bitcoin and Ethereum. So far, there have been no direct changes in funding or announcements from official sources. However, the cryptocurrency market is highly sensitive to any signals regarding the Fed's dovish or hawkish stance.
Potential Financial Impact of Leadership Change at the Fed
Did you know? Past leadership transitions at the Federal Reserve have often led to significant volatility in both traditional and cryptocurrency markets, illustrating the substantial impact of potential policy changes.
As of August 15, 2025, Bitcoin (BTC) is trading at $118,329.84, with a market capitalization of $2.36 trillion, according to CoinMarketCap. In the last 24 hours, Bitcoin has decreased by 4.54%, but remains up slightly by 0.98% over the past 7 days. The 24-hour trading volume of this cryptocurrency is $102.75 billion.
The research team believes that replacing the Chair of the Federal Reserve could lead to varying financial outcomes depending on the policies chosen by the newly appointed individual. These potential changes are significant for regulatory and technological trends in the broader financial context. The experience of candidate Rick Rieder from BlackRock could provide insights into the dynamics of the global bond market if he takes on this role.