Trump has not yet named Powell’s successor: the battle for the Fed presidency will be decided in weeks

Multiple Candidates in Competition

The former president has been evaluating several contenders for the most important position in U.S. monetary policy. During statements on Thursday, Trump mentioned being in active discussions with three to four applicants, in a decision that could be announced before the end of the year, although the evaluation period will extend a few more weeks.

Among the names most strongly considered is Christopher Waller, current member of the Federal Reserve Board. Trump revealed that he met with him again on Wednesday, describing him with praise. Also on the table is Michelle Bowman, Vice Chair of Supervision at the Federal Reserve, who has received recognition from the magnate but without explicit confirmation as a final candidate.

The “two Kevins” in the race

Last week, Trump pointed to Kevin Hassett, current director of the National Economic Council, and Kevin Warsh, a former official of the monetary institution, as prominent figures in the analysis. The businessman then commented: “The two Kevins are excellent options, although there are other competitors of similar caliber.”

The decision timeline

Uncertainty persists about when the official announcement will be made. Trump indicated that the determination could happen before the end of the year but did not guarantee it. The fact is that whoever succeeds Powell will face significant economic challenges in the short term, so the selection of the new Fed chair will be one of the most scrutinized moves of the new administration.