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Trump admin considering two new candidates to be next Fed chair: report

August 9, 2025
in Business, News, Politics
Trump admin considering two new candidates to be next Fed chair: report
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President Trump’s team is reviewing new contenders to lead the Federal Reserve once Chair Jerome Powell’s term ends in May, including a longtime economic consultant and a past regional Fed president, the Wall Street Journal reported on Friday.

The 10 or so people on the newly expanded list include former St. Louis Fed President James Bullard and Marc Sumerlin, a former economic adviser to President George W. Bush, WSJ said, citing officials. Trump last week said he had narrowed the list to four.

National Economic Council director Kevin Hassett and former Fed governor Kevin Warsh remain under consideration, along with current Fed governor Christopher Waller, WSJ said. Reuters has previously reported that these three are candidates, but could not immediately verify the rest of the report.

James Bullard, President of the St. Louis Fed, in an interview.
Former St. Louis Fed President James Bullard is one of 10 candidates to be the next Fed chair, according to a report. REUTERS
James Bullard, President of the St. Louis Fed, in an interview.
Marc Sumerlin was a former economic adviser to President George W. Bush. c-span

Trump has been criticizing Powell all year for not cutting rates, building on disappointment with the Fed chief that emerged during his first term as president shortly after he elevated Powell to the Fed chair role.

It was not clear what a broader list of candidates would mean for the timing of an appointment. Treasury Secretary Scott Bessent is helping lead the search.

The president moved quickly to name an ally to the Fed Board this week after Fed Governor Adriana Kugler, a Biden appointee who did not support rate cuts, unexpectedly resigned as of the end of this week. Council of Economic Advisers Stephen Miran will serve out the remaining months of Kugler’s term, which ends on Jan. 31.

President Trump speaking to the media.
President Trump has been criticizing Fed Chair Jerome Powell all year for not cutting rates. REUTERS

Trump has indicated a search continues for someone who could fill the Fed Board role for a 14-year term beginning February 1.

The post Trump admin considering two new candidates to be next Fed chair: report appeared first on New York Post.

Tags: Donald TrumpFederal ReserveInterest ratesjerome powell
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