Bessent completes Fed chair interviews, sends shortlist of 5 to Trump

Minister of the Treasury Scott Besant He finished interviewing this week for the top spot at the Federal Reserve.

Besant, who has been interviewing candidates since Labor Day, He said previously He wants to “see people who are forward-looking, not backwards on regulation,” get the job of Fed chairman.

The shortlist of five candidates will now go to the president Donald TrumpOffice for review and selection.

Predictive market traders are betting that the Kevins will be Trump’s pick as Fed chairman

Chairman of the Federal Reserve Jerome PowellAppointed by Trump in 2017, Trump is scheduled to complete his term in May 2026.

Federal Reserve Governor Christopher Waller said Monday that he recently met with Bescent to discuss the job and economic outlook for the country.

“I spoke with Scott about 10 days ago, and we had a great meeting,” Waller told FOX Business Network’s Edward Lawrence on Monday. Waller added that the conversation was “directly about the economy” and that his discussions with the administration were “not political at all.”

Among Trump’s potential nominees to succeed Powell, Waller is considered the group’s veteran academic.

One of Trump’s top picks for Fed chair is doubling down on interest rate cut demands

Waller has repeatedly called for lower interest rates, a move that partly aligns with Trump’s demands. He also reiterated the importance of maintaining independence Federal Reserve.

Kevin Hassett, Trump’s chief economic adviser, is competing to head the world’s most powerful central bank.

White House National Economic Council Director Kevin Hassett has been a staunch advocate for Trump’s economic agenda. (Andrew Harnick/Getty Images)

Hassett has been a staunch advocate for Trump’s economic agenda and currently serves as director of the White House National Economic Council. Hassett served in two positions during Trump’s first administration and advised Trump on economic policy during the 2024 presidential campaign.

A look at the ongoing battle between Trump and Powell over Federal Reserve policy

Kevin Warsh, a Hassett rival with deep economic credentials, joined the Fed’s Board of Governors in 2006. At the time, the former Morgan Stanley banker was the youngest person to serve on the board.

Kevin Warsh had been floated as a potential nominee for Treasury Secretary before Trump ultimately chose Scott Bescent. (Tierney L. Cross/Bloomberg/Getty Images)

He was among the leading candidates to replace Chairman of the Federal Reserve Janet Yellen In 2018, before Trump finally appointed Powell to the position.

Most recently, Warsh was considered the top pick for Treasury secretary in the second Trump administration before former hedge fund boss Bescent was nominated.

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Bescent told CNBC on Tuesday that he expects Trump to reach a decision on the next Fed chair by Christmas.