TechFlow news, on July 4, according to Jinshi Data, U.S. Treasury Secretary Bessent said there are many excellent candidates for the Federal Reserve chair position, and work will begin on this matter in the fall. Previously, on June 25, The Wall Street Journal reported that President Trump was considering nominating the next Fed chair early to reduce the influence of current Chair Powell, whose term as Fed chair has 11 months remaining.
Insiders revealed that Trump is considering selecting and announcing Powell’s successor before September or October, “and Trump’s frustration with Powell could lead him to announce the successor earlier, at some point this summer.” Trump is considering former Fed Governor Kevin Warsh and White House National Economic Council Director Kevin Hassett. Additionally, insiders said Treasury Secretary Bessent has been recommended as a potential candidate; other contenders include former World Bank President Malpass and Fed Governor Christopher Waller.
