President Donald Trump Sharp his focus on the Federal Reserve, the names on his radar to lead the world’s most powerful central bank, come into view.
Tensions between Trump and the Federal Reserve have reached a boiling point in recent months, fed by disputes about interest rate decisions, rising renovation costs in the two most important Washington, DC offices and allegations of mortgage fraud With a sedentary board member.
Treasury’s Bessent says that interviews for Potential Fed chairs will start around Labor Day
Trump has placed the fault of the Federal Reserve President justified Jerome Powell Whose term of office at the helm of the central bank of the Nation runs until May 2026. In recent months, the president has intensified his printing campaign, publicly constructed Powell and used personal insults to express his frustration about the decisions of the Fed. Trump previously considered dismissing Powell, which he nominated for the current role in 2017, but eventually withdrew.
Since then, Minister of Finance Scott Bessent started interviewing candidates on Trump’s radar to succeed Powell.
Here is a look at who could possibly become the next Fed chair of the nation.
VICE chairman of the Federal Reserve for Supervision, Michelle Bowman
Michelle Bowman, governor of the Federal Reserve, speaks during a Fed Listens event in Washington, DC, on Friday, March 22, 2024. (Al Drago/Bloomberg/Getty Images/Getty images)
Michelle Bowman currently acts as vice chairman of the Federal Reserve for supervision, a role that places her at the helm of the regulatory agenda of the FED and supervision of the most powerful banks of the nation. The position adjusts closely in the priorities of Trump, in particular his focus on reducing waste, fraud and legal costs.
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Bowman, who largely votes next to Powell, recently broke with him and has called for a reduction in rates.
If it is applied and confirmed by the congress, Bowman would be the second woman to chair the central bank. Janet Yellen was the first woman to play the role.
Governor of the Federal Reserve Christopher Waller
Governor of the Federal Reserve Christopher Waller speaks during the Clearing House Annual Conference in New York City on November 12, 2024. (Brendan McDermid / Reuters / Reuters)
Christopher Waller, a current member of the FED board, has previously called for interest rate cuts, a movement that partly meets the requirements of Trump.
Waller called a delay in consumer expenditure and profit on the labor market and settled for reasons to lower the rates. Tackle Trump’s trade Blitz, Waller said that the Fed “should look through tariff effects”, adding that the impact on inflation will be temporary.
In a different opinions that were not seen in three decades, two Fed Governors wanted to lower the interest and this is why
Of Trump’s potential candidates to succeed Powell, Waller is considered the experienced academician of the group. He has also repeated the importance of maintaining an independent Federal Reserve.
Just like Bowman, Waller has largely voted with Powell. He repeated the importance of maintaining an independent Federal Reserve.
Dallas Fed President Lorie Logan
Lorie Logan, President and Chief Executive Officer of the Federal Reserve Bank of Dallas, speaks during an interview in Dallas, Texas, on Thursday 15 February 2024. (Shelby Tauber/Bloomberg/Getty images/Getty images)
Lorie Logan became the president of the Federal Reserve Bank of Dallas in 2022, making her the first woman to play the role. The inhabitant of Kentucky is also a veteran of the New York Federal Reserve Bank.
In July she said that it was “possible” that a weaker labor market could quickly lead to potential cuts “, although it emphasized a cautious approach, as long as incoming data remain mixed.
As her potential nomination came into the picture, Logan did not recently commented on the prospects for monetary policy or the economy.
Ex-St. Louis Fed President James Bullard
James Bullard, president and chief executive officer at the Federal Reserve Bank of St. Louis, listens during a conference in Washington, DC, on Monday 26 February 2018. (Joshua Roberts/Bloomberg/Getty Images/Getty Images)
Former president of St. Louis Fed, Jim Bullard, said Bloomberg News earlier this month that he spoke with Bessent about the role of the Fed Chair.
“I had the impression that the process is still under construction for interviewing all these candidates, and at that time we can discuss in more detail,” Bullard to Bloomberg in an interview of 13 August. “So I just said that I would like to participate in that process.”
A look at the unfolding battle between Trump and Powell on FED policy
Bullard told CNBC on 12 August that he would accept the job as “we set it up for success.”
“If we can protect the value of the dollar … That will give us lower interest rates over time; if we strive for a low and stable inflation and respect the independence of the institution,” Bullard said.
Bullard became the dean of the Daniels School of Business of Purdue University after a 15-year-old Stint at the Federal Reserve Bank of St. Louis.
Stephen Miran
Stephen Miran, chairman of the Council of Economic Advisers, will speak on Wednesday 30 April 2025 during the Hill & Valley Forum in the Capitol in Washington, DC. (Getty Images)
Trump nominated Stephen Miran to become a member of the Federal Reserve Board of Governors in August after the announcement by Governor Adriana Kugler that she resigned.
Trump described Kugler’s departure as “a pleasant surprise” and quickly called Miran as her successor. Miran, who was previously chairman of the Council of Economic Advisors of the White House and has a doctorate in Harvard’s economy, is an old veteran of both Trump administrations.
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In a social post of 7 August, Trump said that Miran would serve until January 31, pending the confirmation of the Senate. “In the meantime, we will continue to look for a permanent replacement,” he added.
Director of the National Economic Council Kevin Hassett
Kevin Hassett, director of the National Economic Council, speaks to members of the media after a meeting with legislators in the Capitool in Washington, DC on Monday 28 April 2025. (Stefani Reynolds / Bloomberg via Getty Images / Getty images)
Kevin Hassett, Trump’s highest economic adviser, has been a loyal defender of Trump’s economic agenda and is currently the director of the National Economic Council of the White House. Hassett held two roles during the first Trump administration and advised Trump economic policy During the presidential campaign of 2024.
Trump has previously described Hassett as “fantastic” when reporters asked if he could possibly follow Powell. During an interview of 5 August, Trump told Trump that he also thought that the competitor of Hassett, Kevin Warssh, was also ‘very good’.
“Sometimes they are all very good, until you put them in it, and then they don’t do it so well,” Trump said, adding: “I think he is a very good guy. I would say Kevin and Kevin, both kevins are very good.”
Former Federal Reserve Board Governor Kevin Warssh
Kevin Warssh, former Governor of the US Federal Reserve, during the International Monetary Fund and World Bank Spring Meetings in Washington, DC on Friday, April 25, 2025. (Tierney Cross / Bloomberg via Getty Images / Getty images)
Kevin Warssh rose to the Federal Reserve Board of Governors in 2006. At the time, the former Morgan Stanley Banker was the youngest person who became a member of the Fed Board.
He was one of the leading candidates to replace Horny In 2018 Trump finally appointed Powell in the role. More recently, the former Morgan Stanley Banker was previously considered a top choice for Treasury Secretary in Trump’s Second Administration Bushy was nominated.
In recent interviews, Warssh has renewed a renewed call for a regime change at the FED, saying that “broad behavior of monetary policy has long been broken.”
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“This is not the first time in the last decade that you have heard me say that we need a regime change at the FED. It’s not just a person, it’s about an approach to economy and an approach to what they are doing,” Warssh said during a CNBC interview of July 17.
Warssh, who resigned from the Fed Board in 2011, was generally recognized as the most important contact person from Fed to Wall Street during the 2008 financial crisis. He also served as an economic adviser to former President George W. Bush.
Main market strategist at Jefferies David Zervos
David Zervos, main market strategist at Jefferies LLC, will speak on Wednesday, January 30, 2019 during the context tops in Miami, Florida. (Scott McINTYRE/BLOOMBERG/GETTY Images/Getty images)
David Zervos, main market strategist at Jefferies and a CNBC employee, recently noticed on the broadcast of the network that his comment may sound a bit different given his potential nomination.
“I have to get a little differently than in the past,” Zervos said with a smile during a CNBC interview on August 20.
Zervos said that he met Trump several times and has since developed connections with people from his administration. He added that Bessent is not a new knowledge.
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“I have known Scott for a while. He has been a great guy and he has passed into a great finance minister, but he is also a great trader,” Zervos said about Bessent.
He said that he was “very honored” to be eligible for the job in addition to the 10 other candidates and many of them call friends.
