Trump could make a decision on a new Fed chair 'before Christmas.' See who's on the short list

Core Viewpoint - President Trump is actively searching for a replacement for Federal Reserve Chair Jerome Powell, with a potential announcement expected before Christmas [1][2]. Group 1: Nomination Process - Treasury Secretary Scott Bessent indicated that Trump could announce his nominee to replace Powell by Christmas, emphasizing that the Fed should take a less prominent role [1][2]. - Powell's term is set to expire in May, but the White House is already pursuing candidates for his replacement [3]. Group 2: Finalists for Fed Chair - The five finalists for the Fed Chair position include Christopher Waller, Kevin Hassett, Kevin Warsh, Michelle Bowman, and Rick Rieder [3][19][25][28]. - Christopher Waller is currently favored by prediction markets to replace Powell, having recently gained an edge over Kevin Hassett [6][8][12]. Group 3: Candidate Profiles - Christopher Waller: A Fed Governor with experience, he has been involved in discussions with Bessent and believes he fits the criteria the White House is looking for [6][7]. - Kevin Hassett: Former director of the Council of Economic Advisors, he has lost his lead in prediction markets and has faced criticism for his past economic models [12][13]. - Kevin Warsh: Former Fed Governor with a background in Wall Street, he has been vocal about the need for a "regime change" at the Fed [20][21]. - Michelle Bowman: Appointed by Trump, she has shown dissent against the Fed's rate decisions and has a background in banking [25][26]. - Rick Rieder: Chief investment officer at BlackRock, he manages approximately $2.4 trillion in assets and has significant Wall Street experience [28]. Group 4: Candidates No Longer Under Consideration - Several candidates, including David Zervos, Lorie Logan, and James Bullard, have reportedly been removed from consideration for the Fed Chair position [33][34].