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3h ago

Bessent to Give Trump 3–4-Name Shortlist for Fed Chair After Thanksgiving

Treasury’s vetting emphasizes an open-minded leader and could route the pick through a governor seat before a chair nomination as early as January.

U.S. President Donald Trump speaks with U.S. Secretary of the Treasury Scott Bessent, in the Oval Office, at the White House in Washington, D.C., U.S., September 5, 2025. REUTERS/Brian Snyder
Scott Bessent, US treasury secretary, has been aggressive towards both India and China in the recent past.
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Overview

  • Scott Bessent said he has narrowed the field to five finalists: Michelle Bowman, Christopher Waller, Kevin Hassett, Kevin Warsh, and Rick Rieder.
  • He plans another round of interviews before presenting a three- or four-person shortlist to President Trump, who will consult a wide circle of advisers before deciding.
  • Treasury officials indicated the likely path is to nominate the choice first to a Federal Reserve governor seat, with a potential chair nomination as soon as January.
  • Scheduling, including Bessent’s travel, could push steps beyond Thanksgiving, and Jerome Powell’s term ends in May 2026.
  • Bessent stressed he is seeking a candidate with an open mind rather than a pledge to rapid rate cuts, and noted that Bowman and Rieder are newer names for White House consideration compared with previously floated contenders.