New Federal Reserve head appointment expected by end of year

President Trump stated that he knows who he intends to nominate to succeed Federal Reserve Chairman Jerome Powell. Treasury Secretary Scott Bessent has said that an announcement may come before Christmas.

National Economic Council Chairman Kevin Hassett and Vice Chair Miki Bowman, a former community banker, are among the top five candidates. Other interviewed candidates include Fed Governor Christopher Waller, former Fed Governor Kevin Warsh, and BlackRock executive Rick Rieder. Chairman Powell’s term is set to expire in May.