Trump Has Decided Who Will Serve as Chair of the Federal Reserve

President Donald Trump has confirmed that he has already decided who he will nominate as the next Chair of the Federal Reserve, even though he has not publicly named the candidate.

The announcement comes at a sensitive moment for the US economy, with interest rates, inflation, and political pressure all colliding.

The next Fed chair will step into the role as Jerome Powell’s term ends in May, inheriting a central bank under intense scrutiny.

Markets, investors, and policymakers are now watching closely, knowing that this single appointment could influence borrowing costs and financial stability well into 2026.

Key Takeaways

1. Trump says he has made his decision on the next Fed chair but is keeping the name private for now.

2. The shortlist includes Kevin Hassett, Kevin Warsh, Christopher Waller, and Rick Rieder.

3. The choice could shape interest rate policy and market confidence in the coming year.

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Trump Confirms His Decision but Keeps Markets Guessing

Trump revealed in a recent interview that the decision is already made, stating clearly that he has someone in mind but has not discussed it publicly. This approach has added to speculation rather than calming it.

The president emphasized that he wants a Fed chair who supports lower borrowing costs, a stance that puts direct pressure on the traditionally independent central bank.

Why the Timing Matters

• Jerome Powell’s term ends in May

• Trump is expected to announce the pick in January

• Global markets are already reacting to expectations

With Trump planning to attend the World Economic Forum in Davos later this month, many observers believe the announcement could come before or just after that event.

Treasury Secretary Scott Bessent has echoed this timeline, suggesting the decision is imminent.

The lack of clarity keeps investors alert, especially as interest rate cuts are a central topic across financial markets.

Read Also: Trump Fed Chair Candidates 2026: Who Could Lead the Federal Reserve?

The Leading Candidates and Their Backgrounds

Four names continue to dominate discussions around the next Federal Reserve chair. Each brings a different profile and potential policy direction.

Candidates Still in the Running

• Kevin Hassett: Currently a top White House economic adviser, Hassett is seen as closely aligned with Trump’s economic views and has publicly supported lower interest rates.

• Kevin Warsh: A former Fed governor, Warsh brings direct central banking experience and is viewed by markets as a familiar and steady option.

• Christopher Waller: A current Fed governor, Waller represents continuity within the institution and has firsthand experience with current monetary policy debates.

• Rick Rieder: A senior executive at BlackRock, Rieder is the only finalist without Fed experience and the last candidate reportedly awaiting an interview.

Prediction markets have reflected this uncertainty, with Warsh and Hassett leading the odds, followed by Waller.

Rieder remains the wildcard, as his private sector background could appeal to a president seeking a different perspective.

Read Also: Trump’s Fed Chair Pick: Kevin Warsh Odds Surge on Rate Cuts

Political Pressure and the Future of Fed Independence

The Federal Reserve was designed to operate independently from political influence, with Congress establishing guardrails to protect monetary policy decisions.

Trump’s public comments, however, signal a willingness to challenge those norms. He has openly stated that disagreement with his views on interest rates would be disqualifying for the role.

What This Means for Policy

• Increased pressure for faster rate cuts

• Heightened scrutiny of Fed decisions

• Potential market volatility around announcements

Whoever is chosen will face immediate expectations to deliver lower borrowing costs while maintaining credibility with investors.

Balancing political demands with economic realities will define the early months of the next chair’s tenure.

Read Also: Here is Why the Next Trump-Picked Fed Chair Can Be Bullish for Crypto

Conclusion

Trump’s confirmation that he has decided on the next Federal Reserve chair marks a pivotal moment for US economic policy.

Even without a name, the message is clear: interest rates and monetary direction are at the top of the administration’s agenda.

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FAQ

Who has Trump chosen as the next Fed chair?

Trump has said he has decided but has not publicly revealed the name yet.

When will the new Federal Reserve chair be announced?

Treasury officials expect the announcement to happen sometime in January.

Who are the top candidates for Fed chair?

The leading candidates include Kevin Hassett, Kevin Warsh, Christopher Waller, and Rick Rieder.

Why is this Fed appointment so important?

The next chair will guide interest rate policy during a critical economic period.

How could this decision affect financial markets?

Markets may react to expectations of rate cuts, increased volatility, and shifts in monetary policy direction.

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