President Trump may name a replacement for Federal Reserve Chair Jerome Powell before Christmas, Treasury Secretary Scott Bessent said Tuesday.
Bessent, who is leading the search for a new Fed chief, told CNBC he has one interview left and is not ready to speculate on who will ultimately be picked.
But he suggested a decision is close.
“I think there’s a very good chance that the president will make an announcement before Christmas,” Bessent said. “But it’s [Trump’s] prerogative, whether it’s before the Christmas holidays or in the new year. But I think things are moving along very well.”
Potential candidates include:
• Kevin Hassett – National Economic Council Director
• Kevin Warsh – former Fed Governor
• Christopher Waller – current Fed Governor
• Michelle Bowman – current Fed Governor
• Rick Rieder – Chief Investment Officer for global fixed income at BlackRock
Trump has openly criticized Powell for months, accusing him of moving too slowly on rate cuts. Powell’s term does not expire until May 2026, but Trump has said he would “love” to remove him sooner.
Watch the clip below:
🚨 BREAKING: Scott Bessent reveals President Trump is likely to name Jerome Powell's replacement for Federal Reserve chair by CHRISTMAS 👀
"There's a VERY good chance the president will make an announcement before Christmas!"
"Things are moving along very well." pic.twitter.com/uirR4FbtpQ
— Eric Daugherty (@EricLDaugh) November 25, 2025
More over at The New York Post:
Treasury Secretary Scott Bessent says there’s ‘very good chance’ Trump names new Fed chair by Christmas https://t.co/6EIKwLvtSv pic.twitter.com/5ZifXa20dI
— New York Post (@nypost) November 25, 2025
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