The Search Begins: Successor to Federal Reserve Chair Jerome Powell

U.S. Treasury Secretary Scott Bessent announced that the White House will commence interviewing candidates this fall to replace Federal Reserve Chair Jerome Powell. His term ends in May 2026, allowing the Trump administration a six-month lead time to find a successor.

U.S. Treasury Secretary Scott Bessent announced on Monday that the White House plans to begin the process of interviewing candidates this coming fall to find a successor for Federal Reserve Chair Jerome Powell.

Powell, whose term concludes in May 2026, will be replaced following a strategic selection process orchestrated by the current administration.

Bessent, speaking to Bloomberg TV, highlighted the six-month lead time as a sufficient period for the Trump administration to ensure a seamless transition in leadership at the Federal Reserve.

(With inputs from agencies.)