Trump's Fed Chair Hunt: New Contenders Emerge

President Donald Trump is considering new candidates to lead the Federal Reserve, including economic consultant Marc Sumerlin and former St. Louis Fed President James Bullard. The expanded shortlist comes amid criticism of current Chair Jerome Powell. The search is aided by Treasury Secretary Scott Bessent.

In a strategic move, President Donald Trump is reevaluating his options for the next Federal Reserve Chair, with potential candidates such as economic consultant Marc Sumerlin and former regional Fed leader James Bullard being floated, as reported by the Wall Street Journal.

Despite having narrowed down the contenders to four last week, Trump has now expanded his search, including prominent names like National Economic Council director Kevin Hassett, former Fed governor Kevin Warsh, and current Fed governor Christopher Waller. This expansion follows ongoing dissatisfaction with current Fed Chair Jerome Powell over interest rate cuts, a focus he repeatedly clashed with the President on.

With Treasury Secretary Scott Bessent spearheading the search, the President's quick nomination of an ally to fill a vacant Fed Board seat underscores the urgency of this decision. The move follows the unexpected resignation of Fed Governor Adriana Kugler, hinting at upcoming appointments that could shape monetary policy for years to come.

(With inputs from agencies.)