#USFedNewChair Key Developments

1. Stephen Miran — Interim Governor Nominee

President Trump has nominated Stephen Miran, currently the Chair of the Council of Economic Advisers, to fill the vacant Fed Board seat left by Adriana Kugler. Miran’s tenure would run until January 31, 2026. His nomination is viewed as part of a broader push to reshape the Fed toward a more dovish stance and limit its independence.ReutersBarron'sWikipedia

2. Top Contenders for Fed Chair (Post-May 2026)

With Jerome Powell’s term ending in May 2026, several potential successors are emerging:

Christopher Waller — Currently a Fed Governor, he’s becoming the front-runner due to his expertise and willingness to base decisions on economic forecasts.Bloomberg.comMarkets+1

Kevin Warsh — A former Fed governor whose conservative views align with Trump’s call for lower rates.Hoka NewsThe Global Treasurer

Kevin Hassett — Head of the National Economic Council, known as a staunch supporter of Trump’s economic agenda.Hoka NewsThe Global Treasurer

Scott Bessent — Initially a prominent contender, he has since opted to remain as Treasury Secretary and is no longer in the running.The Economic TimesThe Times of IndiaThe Global Treasurer

Surveys indicate a tight race: Treasury Secretary Scott Bessent (before stepping aside), Kevin Warsh, and Kevin Hassett each held roughly equal support among experts. Christopher Waller followed closely behind.CNBC

Summary Table

Position TimelineKey Figures InvolvedShort-term Fed Board SeatStephen Miran (nominee to fill through Jan 31 2026)Potential Fed Chair (post-May 2026)Christopher Waller, Kevin Warsh, Kevin Hassett (with Scott Bessent declined)