President Donald Trump's search to replace Federal Reserve chair Jerome Powell has taken a major turn in the new year.On Sunday, Powell confirmed an explosive report that he is facing a criminal investigation related to his prior testimony to Congress about the $2.5 billion renovation to the Fed's headquarters. In a video statement, Powell said that the probe was in retaliation for his decision to ignore Trump's wishes on rate cuts."The threat of criminal charges is a consequence of the Federal Reserve s ...

On October 27, Treasury Secretary Scott Bessent said that President Donald Trump has narrowed down his search to replace Federal Reserve chair Jerome Powell, whose term does not end until May 2026. ...

Treasury Secretary Scott Bessent on Monday confirmed that the list of candidates to replace Federal Reserve Chair Jerome Powell has been winnowed down to five, with the winner likely to be named by the end of the year.Speaking to reporters on Air Force One, Bessent said the finalists are current Fed Governors Christopher Waller and Michelle Bowman, National Economic Council Director Kevin Hassett, former Governor Kevin Warsh and BlackRock executive Rick Rieder, according to several media outlets.Those names ...