Overview
- President Trump told reporters aboard Air Force One that he has chosen the next Federal Reserve chair but declined to reveal the name, saying an announcement is forthcoming.
- National Economic Council Director Kevin Hassett said he would be “happy to serve” if selected and pointed to lower yields and a strong Treasury auction as evidence of market optimism.
- Bloomberg reporting has cast Hassett as the leading contender, with other finalists reported to include Christopher Waller, Kevin Warsh, Michelle Bowman and BlackRock executive Rick Rieder.
- Treasury Secretary Scott Bessent, who is managing the search, has indicated the decision could be announced before Christmas.
- Jerome Powell’s term as chair runs through May 2026, so any nominee will require Senate confirmation before a transition occurs.