US President Donald Trump is considering a long list of 11 candidates to replace Federal Reserve Chairman Jerome Powell, who will step down in May. The names include those of David Zervos, Rick Rieder, and Marc Sumerlin, among others. Treasury Secretary Scott Bessent will conduct interviews with the candidates and narrow down the list before passing it on to Trump.
The 11th hour is a possibility for Powell’s potential replacement as the Fed chair. Trump has been vocal about his criticism of Powell but has backed off suggestions of replacing him immediately. The longer the process takes, the less likely there will be an interim shadow Fed chair in place for several months.
Most of the candidates have advocated for reform at the Fed, but they generally support its independence and have experience in monetary policy and financial markets. A decision is expected to take considerable time, with no confirmed timetable.
Source: https://www.cnbc.com/2025/08/13/trump-considering-11-candidates-for-fed-chair-including-david-zervos-and-rick-rieder-sources-say.html