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Five Candidates Emerge to Replace Fed Chair Powell

10/27/2025

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Summary

Story summary

Treasury Secretary Scott Bessent announced five candidates to replace Federal Reserve Chair Jerome Powell, with a year-end decision.
The finalists are Fed Governors Christopher Waller and Michelle Bowman, National Economic Council Director Kevin Hassett, former Fed Governor Kevin Warsh, and BlackRock executive Rick Rieder.
Bessent will conduct one more interview and present options to U.S. President Donald Trump after Thanksgiving, while Powell's term ends in May.

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Story summary

Treasury Secretary Scott Bessent announced five candidates to replace Federal Reserve Chair Jerome Powell, with a year-end decision.
The finalists are Fed Governors Christopher Waller and Michelle Bowman, National Economic Council Director Kevin Hassett, former Fed Governor Kevin Warsh, and BlackRock executive Rick Rieder.
Bessent will conduct one more interview and present options to U.S. President Donald Trump after Thanksgiving, while Powell's term ends in May.