Headline: Trump Signals Decision on Next Fed Chair, Keeps Pick Confidential
Markets are on alert after President Trump indicated he has settled on his choice to lead the Federal Reserve, while declining to reveal the nominee. The comment raises anticipation around the central bank’s leadership and the future path of U.S. monetary policy, interest rates, and the broader economy.
According to remarks made to reporters, the president said he effectively knows whom he will nominate to succeed Jerome Powell when the current chair’s term expires next year. Treasury Secretary Scott Bessent has been overseeing interviews with candidates and is expected to introduce finalists to the president soon. Individuals said to be under consideration include National Economic Council Director Kevin Hassett and former Federal Reserve Governor Kevin Warsh.
A timeline for the announcement appears to be taking shape, with indications the decision could be made public before Christmas. A new Fed chair will play a pivotal role in steering inflation management, rate-setting, and financial stability—key variables for credit markets, the U.S. dollar, and sectors sensitive to borrowing costs, including banking, housing, and payments.
Key Points: – President Trump says he has chosen his preferred nominee for the next Federal Reserve chair but has not disclosed the name. – Treasury Secretary Scott Bessent is leading the selection process and preparing to present finalists. – Reported contenders include Kevin Hassett and Kevin Warsh. – Jerome Powell’s term as Fed chair is set to end next year. – An announcement could come before Christmas, signaling imminent clarity for markets. – The choice will shape the monetary policy outlook, interest rates, and financial conditions.
