Trump Expands Search for Next Fed Chair as Powell’s Term Nears End

Donald TRUMP is actively preparing for one of the most consequential financial decisions of his potential next administration—selecting a new Federal Reserve Chair. Jerome Powell's term concludes in May, and the former president has assembled a list of eleven candidates, including BlackRock's Chief Investment Officer for global fixed income, Rick Rieder. Other contenders under consideration are Jefferies strategist David Zervos and former Fed Governor Larry Lindsey.

Treasury Secretary Scott Bessent will lead the interview process before presenting a shortlist to Trump. The selection timeline suggests no interim "shadow" chair will emerge before Powell's departure. Despite Trump's vocal criticism of Powell, he has committed to allowing the current chair to serve out his term.

Rieder's candidacy carries particular weight given his influence at BlackRock and public advocacy for rate cuts—a stance aligning with Trump's preference for looser monetary policy. His views mirror those of Fed officials like Michelle Bowman and Chris Waller, who recently supported easing measures.