Race for New Fed Leader Heats Up Ahead of Christmas

The race to appoint a new leader for the U.S. Federal Reserve is intensifying. White House economic adviser Kevin Hassett emerges as a frontrunner, with an announcement expected before Christmas. Current Chair Jerome Powell's successor may lower interest rates, aligning closer to President Trump's stance.

The search for a new U.S. Federal Reserve leader is heating up as Treasury Secretary Scott Bessent conducts final interviews, with a decision potentially announced by President Trump before Christmas.

Among the top contenders is White House economic adviser Kevin Hassett, recently highlighted as a frontrunner. The selection process aims to choose a successor for current Fed Chair Jerome Powell, whose term concludes in May. The Trump administration desires a candidate aligned with its preference for lower interest rates.

The selection process, involving candidates like former Fed Governor Kevin Warsh and current Governors Christopher Waller and Michelle Bowman, reflects a push for expertise and strategic alignment. The outcome could influence future monetary policies significantly, especially as the U.S. navigates a complex economic landscape.

(With inputs from agencies.)