Next year will see the replacement of the chair of the Federal Reserve (Fed). Scott Bessent will lead the interviewing process for the leading candidates.
Selection Process for the New Fed Chair
Scott Bessent will conduct interviews with candidates for the Fed chair position over the coming weeks. The final decision will be made by President Donald Trump in the fall. These interviews will help create a shortlist of candidates for Trump to meet.
List of Candidates for the Chair
Currently serious candidates include Michelle Bowman, Philip Jefferson, and Lorie Logan. Michelle is the Fed's vice chair for supervision, Philip is the vice chair of the board, and Lorie is the president of the Dallas Fed.
Interactions with the Trump Administration
Scott Bessent will also consider other contenders, including Trump's economic advisor Kevin Hassett and other Fed officials. Given recent appointments, including the nomination of Stephen Miran, the administration is in no rush to select the new Fed chair.
The leading candidates for the Fed chair position bring diverse experience and perspectives on economic policy. The upcoming months will be crucial in determining who will fill this significant role.
