Trump Team Begins Process to Replace Fed Chair Jerome Powell, 11 Candidates Under Consideration

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2025-08-27 22:30:02

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Treasury Secretary Scott Bessent confirmed interviews for Jerome Powell's successor will commence after Labor Day, with eleven candidates in contention. The selection process, directed by President Donald TRUMP and his economic advisors, signals a potential shift in U.S. monetary policy alignment with White House objectives.

Bessent described the candidate pool as "very strong" and emphasized the need for expertise in both monetary and regulatory policy. The shortlist will be narrowed to three or four finalists by fall. Market observers anticipate heightened volatility in traditional and crypto markets as the Fed leadership transition unfolds.

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