<p>President Trump is getting closer to naming his replacement for Jerome Powell as his patience with the central bank chairman runs out.</p>
<p>Trump told reporters Wednesday that that he is down to three or four candidates, and The Wall Street Journal reported late Wednesday that he could announce his final pick by September or October — or even this summer — to undercut Powell's authority for the remainder of his term ending in May 2026.</p>
<p>"I know within three or four people who I'm going to pick," the president said Wednesday without offering specific names.</p>
<p>The Wall Street Journal reported that former Fed governor Kevin Warsh and National Economic Council director Kevin Hassett are among the people being considered by Trump, and that Treasury Secretary Scott Bessent has been pitched as well.</p>
<p>Before Trump was elected, Bessent in 2024 floated the idea of naming a "shadow chair" well before Powell's term was up, ensuring that "no one is really going to care what Jerome Powell has to say anymore."</p>
<p>Bessent told lawmakers earlier this month he would like to remain in his seat until 2029, but he did not dismiss the possibility of becoming the next chair of the Fed.</p>
Source: AOL Money
Source: AsherMag
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