Treasury Secretary Scott Bessent has announced that after a series of rigorous interviews, the list of candidates for Federal Reserve chair now stands at five, down from 11.
Bessent acknowledged that the individual who will be nominated to the Fed will be named by January.
Senior Treasury officials have identified the remaining candidates as two current Fed officials: Vice Chair for Supervision Michelle Bowman and Governor Christopher Waller, as well as Kevin Hassett, the director of the National Economic Council, former Fed Governor Kevin Warsh; and BlackRock Fixed Income CIO Rick Rieder.
The Treasury plans to conduct another series of interviews with all five candidates over the next few weeks and months.
The interviews will be led by Bessent and include two senior Treasury officials along with two senior White House officials. The process might not be completed until after Thanksgiving.
The seat formerly held by Fed governor Adriana Kugler, now occupied by Stephen Miran, has a term ending in January and would enable the new Fed chair to nominate someone to a seat with a full 14-year governor’s term.
Bessent is looking for a candidate for the Chair position who is receptive to innovative approaches to managing the Fed and monetary policy, and possesses experience in economics, banking regulation, management, and monetary policy.
By CEO NA Editorial Staff
