Trump Eyes Five Finalists for Fed Chair as Economic Shift Looms

UPDATE: President Donald Trump is poised to make a pivotal decision regarding the future of the Federal Reserve, with five finalists announced for the potential successor to current Chair Jerome Powell. During a press briefing on October 27, 2025, aboard Air Force One, Treasury Secretary Scott Bessent revealed the candidates under consideration, signaling a major shift in U.S. monetary policy.

Trump’s list includes former White House Economic Adviser Kevin Hassett, former Fed Governor Kevin Warsh, current Fed Governors Michelle Bowman and Christopher Waller, and Rick Rieder, the Chief Investment Officer at BlackRock. The urgency of this announcement reflects Trump’s dissatisfaction with Powell, whom he views as a barrier to his economic agenda aimed at reviving the middle class before the 2026 elections.

The Federal Reserve Chair serves a four-year term, and Trump has been vocal about his desire for a replacement who aligns more closely with his vision for economic growth. He aims to reduce interest rates to stimulate the economy, lower debt servicing costs, and implement policies such as tariffs to support American workers. Trump is expected to finalize his choice by the end of the year, which could have profound implications for the nation’s economic landscape.

Hassett, a frontrunner for the position, has openly criticized Powell’s monetary policies, advocating for interest rates to be significantly lower to foster growth. His previous role during Trump’s presidency included championing the 2017 Tax Cuts and Jobs Act, which he claims benefited the middle class. “Kevin Hassett is both kind and brilliant,” Ivanka Trump tweeted, highlighting his potential influence in reshaping Fed policy.

Former Fed Governor Kevin Warsh has also been vocal about the need for the Fed to reevaluate its reliance on outdated data, arguing for significant rate cuts to stimulate economic activity. His experience and criticism of the Fed’s current approach make him a notable contender, although his pro-free trade stance may conflict with Trump’s tariff policies.

Current Fed Governor Michelle Bowman supports gradual rate adjustments to maintain economic stability and full employment. While her approach may not align entirely with Trump’s push for immediate rate cuts, she shares a common goal of enhancing middle-class prosperity.

Governor Christopher Waller, another Trump appointee, has favored cautious rate hikes during the Biden Administration but acknowledges the need for balanced policy adjustments to avoid economic overheating. His pragmatic stance may resonate with Trump’s vision, yet it does not guarantee a clear push toward aggressive monetary easing.

Rick Rieder, coming from the private sector, offers a unique perspective. As the chief investment officer at BlackRock, he emphasizes the need for lower rates to drive growth, particularly in the face of rising inflation concerns attributed to tariffs. However, his focus on market-driven growth raises questions about his commitment to a middle-class-centric agenda.

With the potential for significant shifts in monetary policy, the selection of the next Fed Chair is critical for shaping the economic trajectory of the United States. As Trump prepares to announce his choice, the implications for middle-class Americans and overall economic health remain a pressing concern.

As developments unfold, all eyes will be on the Trump administration and the candidates vying for this influential role. Follow for real-time updates as the situation progresses.