US Treasury Secretary Scott Bessent is leading a search for a successor to Federal Reserve Chair Jerome Powell, with an expanded list of potential candidates. The list includes St. Louis Fed President James Bullard and economic consultant Marc Sumerlin, among others.
President Donald Trump had narrowed the list down to four contenders but has since expanded it further. National Economic Council director Kevin Hassett and former Fed governor Kevin Warsh are also under consideration. Current Fed governor Christopher Waller is another candidate who has signaled support for lower interest rates.
The expansion of the search list raises questions about the timing of an appointment. The recent resignation of Fed Governor Adriana Kugler, a Biden appointee who opposed rate cuts, may have accelerated Trump’s search. Council of Economic Advisers Stephen Miran will serve out the remaining months of Kugler’s term until January 31.
Trump is seeking a new candidate to fill the Fed Board role for a 14-year term starting February 1. The expanded list suggests that the president is looking for someone who shares his views on monetary policy, including lower interest rates.
Source: https://www.cnbc.com/2025/08/08/trumps-team-expands-search-for-fed-chair-to-about-10-names-wsj-reports.html