The Trump administration is reportedly considering 11 candidates to replace Federal Reserve Chairman Jerome Powell when his term expires in May.
The new list, provided by anonymous administration officials, includes Jefferies’ Chief Market Strategist David Zervos, former Fed Governor Larry Lindsey, and Rick Rieder, Chief Investment Officer for Global Fixed Income at BlackRock.
They now join a list of 8 other candidates:
- Fed Vice Chair for Supervision Michelle Bowman
- Fed Governor Chris Waller
- Fed Vice Chair Philip Jefferson
- Marc Summerlin, an economic advisor in the Bush Administration
- Dallas Fed President Lorie Logan
- Former St. Louis Fed President James Bullard
- Kevin Hassett, director of the National Economic Council
- Former Fed Governor Kevin Warsh
Although several candidates propose different reform ideas for the Fed, most endorse its independence and possess experience in monetary policy and financial markets.
Despite having a long list of candidates to choose from, the longer the process takes, the less likely it is that a so-called “shadow fed chair” will be in position for several months before Powell steps down, which analysts believe could disrupt monetary policy.
By CEO NA Editorial Staff
