Trump's timeline for announcing a new Fed chair gets scrambled again
Trump has besieged the central bank in recent months in an attempt to bring it more under his control
President Donald Trump speaks to members of the media on the South Lawn of the White House before boarding Marine One in Washington, DC, US, on Tuesday, Sept. 16, 2025. (Bonnie Cash/UPI/Bloomberg via Getty Images)
President Donald Trump will announce his new pick to lead the Federal Reserve by the end of the month, according to one of his top economic lieutenants.
"We have four fantastic candidates — it will be up to the president, and I would imagine that he will have an announcement maybe as early as next week," Treasury Secretary Scott Bessent told reporters on Tuesday.
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The four finalists to helm the central bank include Kevin Hassett, a White House economic aide; Kevin Warsh, a former Fed governor; Christopher Waller, a current Fed governor; and Rick Rieder, a Blackrock executive.
Earlier this month, Department of Justice launched a probe into Federal Reserve chair Jerome Powell regarding his Senate testimony on extensive Fed renovations.
Hassett has long been viewed as the frontrunner. But the latest raised questions among analysts on whether he will act independently of the White House or as an extension of it. Trump seemed to acknowledge Hassett might remain in his current post, a loss of his frontrunner status.
"I actually want to keep you where you are, if you want to know the truth. Kevin Hassett is so good," Trump said Friday morning at a White House event.
Trump has besieged the central bank in recent months in an attempt to bring it more under his control. Part of that offensive included the attempted firing of Federal Reserve governor Lisa Cook last year, which triggered a legal fight over the president's ability to remove Fed board members at will.
The Supreme Court will hear the Cook case on Wednesday. Powell is expected to attend the hearing with Cook.