Top Candidates for the Next Federal Reserve Chair
With Jerome Powell’s term ending in May 2026, discussions about his potential replacement are heating up—especially as Donald Trump signals interest in naming a successor early if re-elected.
🔍 Leading Names Under Consideration
Candidate Background Why They Matter
Kevin Warsh Former Fed Governor (2006–2011) Favored by Trump, known for his market acumen and policy expertise. Seen as a stable pick with strong Wall Street ties.
Christopher Waller Current Fed Governor Supports rate cuts; his dovish stance could align well with Trump’s economic goals. A credible insider.
Scott Bessent Current Treasury Secretary Rising star in Trump's circle, well-regarded in financial markets, and closely aligned with Trump’s broader economic strategy.
Kevin Hassett Former White House Economic Advisor Trusted by Trump, deeply involved in past economic policy decisions, and considered a loyal ally.
🗓️ What’s Ahead
Trump may name a replacement before Powell’s term ends, possibly in late 2025.
An early announcement could create market uncertainty, especially if it challenges the Fed's independence.
Senate confirmation will be required, and any nominee will face close scrutiny over their views on inflation, interest rates, and Fed autonomy.
These frontrunners represent a mix of experience, loyalty, and policy alignment, and any of them could significantly shift the direction of U.S. monetary policy.