U.S. Treasury Secretary Scott Bessent said on Tuesday that he expected to complete a second round of interviews for the next Federal Reserve chair by the end of the day. He also noted there was a strong likelihood that President Donald Trump would reveal his chosen candidate before Christmas.
Bessent has reduced the list of potential successors to current Fed Chair Jerome Powell—from an initial group of up to 11 candidates down to five finalists. Powell’s term expires in May. Speaking with CNBC, Bessent explained that the latest interviews focused on how each candidate would manage what he described as a “very complicated operation.”
“We’re wrapping up the final interview of the second round today,” Bessent said. “We have five very strong candidates.” He added that the president may announce his decision before the holiday season, though the timing is ultimately up to Trump. “Things are moving along very well,” he said.
The final group includes:
- Kevin Hassett, White House economic adviser
- Kevin Warsh, former Federal Reserve governor
- Christopher Waller, current Fed governor
- Michelle Bowman, Fed governor and vice chair for supervision
- Rick Rieder, BlackRock’s global fixed income chief investment officer
Betting platforms Kalshi and Polymarket currently show a close race between Hassett and Waller. Waller’s chances were seen improving this week after he confirmed he had a strong second interview with Bessent.
During an appearance on Fox Business, Waller said: “I talked to Scott about 10 days ago. We had a great meeting. I think they are looking for someone with merit, experience, and a deep understanding of the job, and I believe I fit that.”
