Trump Set to Decide on Next Federal Reserve Chair

U.S. President Donald Trump is expected to select the next Federal Reserve chair soon, with the decision possibly announced next week. Treasury Secretary Scott Bessent confirmed discussions have narrowed down to four candidates. Trump's dissatisfaction with Jerome Powell is a key factor influencing this decision.

U.S. President Donald Trump is poised to announce the next chairman of the Federal Reserve as early as next week. This information was confirmed by U.S. Treasury Secretary Scott Bessent, who revealed in a CNBC interview on Tuesday that discussions have been underway since September.

From an initial pool of eleven strong candidates, the decision has been narrowed down to four. Trump has conducted personal meetings with all potential candidates, evidencing the seriousness of the selection process. The leading contenders are economic adviser Kevin Hassett, Fed Governor Christopher Waller, former Fed Governor Kevin Warsh, and BlackRock's bond chief, Rick Rieder.

Jerome Powell, the current Fed chair who was nominated by Trump in 2017, has faced criticism from the President for not reducing interest rates more aggressively. As his term ends in May, Powell's future role at the Fed remains uncertain, although he is not required to step down entirely.

(With inputs from agencies.)