Overview
- President Trump told reporters he has decided on a nominee to succeed Jerome Powell but declined to reveal the name.
- Kevin Hassett said he would be happy to serve if selected and characterized reports of his frontrunner status as a rumor in weekend interviews.
- Treasury Secretary Scott Bessent, who led the vetting, indicated the White House could announce the pick before the Christmas holiday from a shortlist that includes Hassett, Christopher Waller, Michelle Bowman, Kevin Warsh and Rick Rieder.
- Powell’s term ends in May 2026, and any nominee will require Senate confirmation, raising the prospect of a months‑long “shadow chair” influencing expectations before the handover.
- Markets reacted to reports favoring Hassett, with prediction platforms assigning him the highest odds and coverage noting a brief drop in the 10‑year Treasury yield below 4%.