WASHINGTON (AP) — President Donald Trump said Tuesday that he’s whittled down his list of potential Federal Reserve chair candidates to four as he considers a…
President Donald Trump said Tuesday that he’s whittled down his list of potential Federal Reserve chair candidates to four as he considers a successor to Jerome Powell — a choice that could reset the path of the U.S. economy.
Asked on CNBC’s “Squawk Box” for a future replacement to Powell, Trump named Kevin Hassett, director of the National Economic Council, and Kevin Warsh, a former member of the Federal Reserve Board of Governors.
“I think Kevin and Kevin, both Kevins, are very good,” Trump said during an interview on CNBC’s “Squawk Box.”
He said two other people were also under consideration, but Treasury Secretary Scott Bessent is not among them.
“I love Scott, but he wants to stay where he is,” Trump said. He did not name his other two top candidates but used the opportunity to disparage Powell, whom he has dubbed “too late” in cutting interest rates.
The news that Trump plans to make a decision on the Fed chair “soon” comes as the Republican president has been highly critical of current Powell, whose term ends in May 2026. Trump recently floated having the Fed’s board of governors take full control of the U.S. central bank from Powell, whom he has relentlessly pressured to cut short-term interest rates in ways that raise questions about whether the Fed can remain free from White House politicking.
Trump has openly mused about whether to remove Powell before his tenure as chair ends, but he’s held off on dismissing the Fed chair after a recent Supreme Court ruling suggested he could only do so for cause rather than out of policy disagreements.
