U.S. Treasury Secretary Scott Bessent has narrowed his short list of 11 candidates to five candidates for the position of Federal Reserve Chairman after a comprehensive interview process. The final candidate is expected to be announced in January, but it has been reported that this candidate may not be appointed immediately.
The five finalists include current Fed officials Michelle Bowman, vice chair for oversight, and Christopher Waller, Treasury officials said. Other candidates announced include National Economic Council Chairman Kevin Hassett, former Federal Reserve President Kevin Warsh, and BlackRock Chief Investment Officer Rick Rieder.
The Ministry of Finance plans to conduct a second round of interviews with all candidates in the coming weeks. In addition to Bessent, the press conference will include two senior Treasury Department officials and two White House officials. However, Bessent is scheduled to attend a World Bank/IMF meeting in Washington next week and then travel with the president on a tour of Asia, which could delay the process until after Thanksgiving.
After the interviews, Bessent is expected to narrow down the list and submit it to President Trump. The final selection will reportedly be made by Trump, who is likely to be nominated first as Fed governor and then as Fed chairman.
*This is not investment advice.
