President Donald Trump will start the final round of interviews for the next chair of the Federal Reserve this week after the White House canceled plans to hold interviews last week.
Trump told reporters on Air Force One Tuesday evening that his administration is "going to be looking at a couple different people" to succeed current Fed Chair Jerome Powell, adding, "I have a pretty good idea of who I want."
Powell's four-year leadership term as chair ends in May 2026, meaning this decision will likely shape interest rate policy, inflation fighting, and the central bank's independence for the rest of Trump's second term.
The Fed chair is the public face of U.S. monetary policy and leads the Federal Open Market Committee, which sets interest rates and influences borrowing costs across the economy, including mortgages, auto loans, and business credit.
Markets typically react quickly to any sign a new chair could steer policy faster toward rate cuts or hold rates higher to combat inflation.
Trump publicly suggesting he already has a strong sense of whom he wants has investors focused on the timing and direction of his pick.
Powell's term as a member of the Fed's Board of Governors runs longer than his term as chair, which means he could remain on the board after stepping down as chairman, though chairs often depart the board when their leadership term ends.
Reporting in recent months has highlighted several potential contenders, including White House economic adviser Kevin Hassett and other current or former officials and market figures.
Reuters has reported Hassett is among names on a short list as Trump moves toward a selection process expected to accelerate heading into early 2026.
Theodore Bunker ✉
Theodore Bunker, a Newsmax writer, has more than a decade covering news, media, and politics.
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