Trump will soon choose the next head of the Federal Reserve.. Who is the most prominent candidate?
US President Donald Trump will announce, most likely at the beginning of next year, the name of the person he wishes to succeed Jerome Powell as president of Federal Reserve (the US central bank).
Trump said while chairing a meeting of his administration on Tuesday: "We will likely announce at the beginning of next year who could become the new Chairman of the Federal Reserve"
He reiterated that he had offered the position to Treasury Secretary Scott Bescent, but the latter did not want it.
Trump’s chief economic advisor, Kevin Hassett, is currently the most prominent candidate.
Study of the files of 10 candidates
The confirmation of Trump’s nominee to head the Federal Reserve in his position requires approval by the Republican-controlled Senate.
It appears that the reference to announcing the name in 2026 constitutes a new postponement of this strategic appointment that she is working on. The executive authority has been in power for several months.
The US President indicated on Tuesday that the files of 10 candidates have been studied, leaving one remaining.
End of Powell’s term
The term of the current Chairman of the Federal Reserve, Jerome Powell, will end in the spring of 2026.
Trump appointed him in 2017 during his first presidential term, but Trump did not conceal for a day in his second, non-consecutive presidential term, his desire to Powell’s dismissal amid controversy over whether the country’s president’s powers allow him to do so.
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