Trump likely to announce new Fed Chair before Christmas, says Treasury Secretary

U.S. Treasury Secretary Scott Bessent said Tuesday there is a “very good chance” that President Donald Trump will announce a new Federal Reserve chairman before Christmas.

Speaking to CNBC, Bessent noted that the final interviews for the position are underway. “So we're going to have the last interview in the second round today… we got five very strong candidates,” he said, News.Az reports, citing Reuters.

Current Fed Chair Jerome Powell’s term expires in May 2026, and the announcement will determine the direction of U.S. monetary policy heading into next year.

 

News.Az