Federal Reserve Chair Selection Process Underway as Trump Extends Timeline

Scott Bessent is leading the interview process for candidates vying to become the next Federal Reserve chair, with a final decision expected from President Donald TRUMP in the fall. The selection will narrow down a shortlist of contenders for Trump's personal review.

Notable candidates under serious consideration include Michelle Bowman, the Fed's vice chair for supervision; Philip Jefferson, vice chair of the board; and Lorie Logan, president of the Dallas Fed. Additional contenders being interviewed span current and former Fed officials, including Trump economic adviser Kevin Hassett and former Fed presidents Kevin Warsh and James Bullard.

The administration has gained breathing room in the selection process following Trump's nomination of Stephen Miran to fill a vacant seat on the Fed's Board of Governors. With this appointment moving through Senate confirmation, officials indicate no immediate pressure to rush the chair decision.