Particle.news
Download on the App Store
10 ARTICLES
·
1h ago

White House Nears Fed Chair Pick as Bessent Signals Pre-Christmas Announcement

Bessent is prioritizing a chair who would simplify the central bank’s complex toolkit, with reports elevating Kevin Hassett even as prediction markets lean toward Christopher Waller.

FILE PHOTO: U.S. President Donald Trump and U.S. Secretary of the Treasury Scott Bessent listen as National Economic Council Director Kevin Hassett speaks, at the White House in Washington, D.C., U.S., September 5, 2025. REUTERS/Brian Snyder/File Photo
Image
President Donald Trump could name his nominee for the next Federal Reserve chair by the end of the year. White House economic advisor Kevin Hassett (left) and Fed Gov. Christopher Waller are leading prediction markets.
Bessent

Overview

  • Treasury Secretary Scott Bessent told CNBC he has one final second-round interview and sees a very good chance President Trump will announce a nominee before Christmas.
  • The finalist slate stands at five: NEC Director Kevin Hassett, Fed Governors Christopher Waller and Michelle Bowman, former Governor Kevin Warsh, and BlackRock executive Rick Rieder.
  • Bloomberg and other outlets report Hassett as the leading contender, while Polymarket and Kalshi odds have recently given Waller a narrow edge.
  • Bessent said simplifying the Fed’s operations is a key criterion, voicing concerns about the ample-reserves regime and calling for the central bank to recede into the background.
  • Any pick must be formally nominated and confirmed by the Senate, with standard practice to appoint a governor before elevating to chair as Jerome Powell’s chair term ends in May 2026.