Trump’s Fed chair candidates list narrowed down to five by Bessent after interviews, sources say

Fed Chair Candidates - Treasury Secretary has narrowed down the list of candidates for Fed chair to five from eleven [2] - The final five candidates include sitting Fed officials Michelle Bowman and Chris Waller, Kevin Hasset, former Fed Governor Kevin Worsh, and Black Rock fixed income CIO Rick Reer [2][3] - The nominee could be appointed as early as December or January, potentially filling Andreana Cougler's vacant Fed governor position and later being nominated as Fed Chair, succeeding Jerome Powell whose term expires in May [4] - The Treasury Secretary seeks a Fed chair with experience in economics, monetary policy, banking regulation, and management [5] Selection Process & Criteria - The selection process includes multiple interviews with the Treasury Secretary, senior Treasury officials, and White House officials, concluding after Thanksgiving [3][4] - The Treasury Secretary has been critical of the Fed, advocating for reviews of its policy structure and mission, particularly its size and scope [6] - The administration seems content with Michelle Bowman's current role as vice chair for supervision, especially regarding bank deregulation for community banks [8] - Rick Reer is noted for his extensive market experience and views on the Fed and fixed income markets, setting him apart as the only candidate without prior Federal Reserve experience [9] Market Perspective - The Treasury Secretary is perceived as having a deep understanding of the markets, influencing the selection process [10][11]