Overview
- Scott Bessent confirmed five finalists to succeed Jerome Powell: Christopher Waller, Michelle Bowman, Kevin Warsh, Kevin Hassett and Rick Rieder.
- He said he will deliver a short list to the White House after the post-Thanksgiving interviews, with a decision targeted before year-end even as Powell’s term runs to May 2026.
- Investors widely expect the Federal Open Market Committee to approve a second consecutive 25 basis-point rate reduction today.
- A partial federal shutdown has delayed key labor and inflation reports, leaving policymakers to lean on private indicators and raising uncertainty about the December path.
- Reporting also points to potential balance-sheet changes under discussion, and President Trump has stepped up public pressure on Powell while discounting Bessent as a candidate he says will remain at Treasury.