Photo JIM WATSON
Treasury Secretary Scott Bessent confirmed President Donald Trump has five potential successors to serve as Federal Reserve Chairman Jerome Powell’s successor when his term ends in May 2026.
On Air Force One Monday, Bessent told reporters Trump is considering nominating Kevin Hassett, former Kevin Warsh, Michelle Bowman, Christopher Waller, or Rick Rieder to replace Powell. The Federal Reserve Chair serves a four-year term, which is renewable. However, Trump has been vocal about wanting to replace Powell, whom he sees as an obstacle to enacting his economic agenda and rescuing America’s middle class from the decline it had under the Biden administration.
President Trump says he expects to make a decision on the next Fed Chair before the end of the year. Bessent confirms the five finalists to reporters on Air Force One:
– Governor Christopher Waller
– Governor Michelle Bowman
– Former Fed Governor Kevin Warsh
– NEC Director…
Kevin Hassett is both kind and brilliant. As Chairman of the Council of Economic Advisers, he has been instrumental in advancing this Admin’s pro-growth economic agenda & lifting America’s hard-working families.
Kevin is a dear friend & will be missed! Thankful for his service!
Kevin Warsh on Fox Business: The Fed can “lower interest rates a lot” to get mortgage rates down.
Warsh also says the Fed should shrink its balance sheet to “redeploy that money to Main Street so that Main Street can have the strong economy that we’re seeing in financial…
Federal Reserve Gov. Christopher Waller: “We need to start cutting rates at the next meeting… Over the next 3-6 months, we could see multiple cuts coming in.” pic.twitter.com/LLqx6biszH
— Rapid Response 47 (@RapidResponse47) September 3, 2025
