Summary
President Donald Trump is picking a new Federal Reserve chair as Jerome Powell's term ends in May. The choice is important for the economy, and Trump is deciding from a list of five finalists. Each candidate has different relationships with Trump and varying levels of experience.
Key Facts
- President Trump is choosing a new chair for the Federal Reserve.
- Jerome Powell's term as Fed chair ends in May.
- Trump has five finalists to consider for the position.
- Kevin Hassett, a Trump insider, has the highest odds of being chosen according to Polymarket.
- Christopher Waller is a current Fed governor with experience and independent ideas.
- Kevin Warsh was a Fed governor during the 2008 financial crisis and is critical of the Fed's expansive policies.
- Rick Rieder, who manages BlackRock's bond investments, is known on Wall Street but new to the Fed system.
- Treasury Secretary Scott Bessent confirmed these finalists and expects a decision by the year's end.
