Trump Announces Completion of Fed Chair Interviews, Has Chosen a Candidate

Trump Completes Interviews for Next Fed Chair

President Donald Trump has concluded his meetings with potential candidates to lead the Federal Reserve and confirmed that he has settled on a preferred choice, though he has not yet disclosed the name.

“I’ll announce my decision soon. I have someone in mind who I believe will excel in the role, but I’m not ready to share who it is,” Trump told reporters on Thursday.

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Trump described his pick as “a highly respected and well-known individual who I believe will perform admirably.”

The shortlist for the position reportedly includes Kevin Hassett, who directs the National Economic Council; Rick Rieder, an executive at BlackRock; current Fed Governor Christopher Waller; and former Fed Governor Kevin Warsh.

Inside the Selection Process

Kevin Hassett was previously considered the leading candidate, but Trump has since indicated he may prefer to keep Hassett in his current White House post. According to sources familiar with the discussions, Trump has expressed some dissatisfaction with the available options.

Trump’s eventual nominee will succeed Jerome Powell, whose term as Fed chair concludes in May. Trump has frequently criticized Powell, accusing him of being too slow to reduce interest rates.

During an interview with CNBC in Davos on Wednesday, Trump gave conflicting statements about the number of finalists. Treasury Secretary Scott Bessent, who is overseeing the selection, has stated that four individuals remain under consideration and that an announcement could come before the month ends.

“We’re probably down to three, maybe two, and honestly, I think I already know who it will be,” Trump remarked on Wednesday.

Escalating Tensions with the Fed

Earlier this month, the Trump administration escalated its dispute with Powell by issuing subpoenas related to the renovation of the Fed’s Washington headquarters, suggesting a possible criminal investigation. Powell dismissed the move as retaliation for his reluctance to cut rates more aggressively.

Although Powell’s term as chair ends in May, he is eligible to remain on the Fed board until 2028. The possibility of legal action has led to speculation that Powell might choose to stay on after his chairmanship ends.

When asked if he was concerned about Powell remaining at the Fed, Trump replied that he was not worried.

“We’ll see what unfolds,” Trump said. “He’s always late, even though interest rates are finally coming down.”

Legal Challenges and Further Developments

Trump has also attempted to remove Fed Governor Lisa Cook over allegations of mortgage fraud, which she denies. Cook remains in her position while the case is being litigated. The Supreme Court recently heard arguments related to this matter. When questioned about the justices’ skepticism regarding his authority to remove Cook, Trump said he followed their questions closely.

“My impression was that the court questioned whether the process should have gone through a more standard legal route, not that they found her innocent. They seemed to think the proceedings might have needed more time, so we’ll see how it turns out,” Trump commented.

Story updated with additional background information.

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