Overview
- President Trump told reporters he thinks he already knows his choice to succeed Jerome Powell and again called the Fed chair a "stupid man," saying others are preventing an immediate firing.
- Legal and structural limits make removing a Fed chair over policy disputes difficult, and Powell’s chair term runs until May 2026.
- Treasury Secretary Scott Bessent reaffirmed he will not take the job and is overseeing the search on the White House’s behalf.
- Bessent said another interview round will occur after Thanksgiving, the president plans to meet finalists by mid-December, and the goal is to name a nominee before Christmas.
- Officials have a five-person shortlist: Kevin Hassett, Kevin Warsh, Christopher Waller, Michelle Bowman, and Rick Rieder, with prediction markets currently favoring Hassett as the frontrunner.