United States. Washington. Economy. Politics. Scott Bessent, U.S. Treasury Secretary and in charge of the process of selecting Jerome Powell's successor, has confirmed the five candidates for the position of Chairman of the Federal Reserve (Fed), following numerous complaints from Trump about his management. The head of the Treasury and Trump's right-hand man on economic matters specified that he expects to conclude the second round of the process today with the final interview with one of the five candidates in the running. Initially, there were eleven. "We have five very strong candidates," Bessent stated. "I am impressed with all of them," Bessent emphasized, highlighting the complexity of the Fed's operation, which not only sets the price of money but also deals with monetary policy, the balance sheet, and regulatory policy. "In the interviews, we have placed great emphasis on the interaction of that calculation to determine the best way forward for the U.S. economy and what is the point for each person in terms of protecting the American people, protecting the economy, and moving forward with the dual mandate," he explained. Bessent confirmed in October that the five finalists are current members of the Fed's Board of Governors, Christopher Waller and Michelle Bowman; former Fed governor Kevin Warsh; director of the White House National Economic Council, Kevin Hassett; and BlackRock executive Rick Rieder. Then, the Treasury Secretary announced that he expected to conduct a second round of interviews to present Trump with a "good list" of candidates after Thanksgiving, which is celebrated this Thursday. The candidate with the best chance to head the U.S. Federal Reserve (Fed) is expected to be the director of the White House National Economic Council, Kevin Hassett, according to Bloomberg on Tuesday, citing sources familiar with the matter. With this choice, Donald Trump would ensure a compliant and aligned central bank that would lower interest rates at all costs, which would allow the U.S. government to reduce its financing costs and stimulate private activity. However, the sources consulted recalled that the president has not yet made any decision, and in this regard, White House spokeswoman Karoline Leavitt stated in a statement that "no one knows what President Trump will do until he does it." On the other hand, Scott Bessent, Treasury Secretary and in charge of the process of selecting Powell's successor, indicated on Tuesday that the final name will likely be announced before Christmas. "There is a good chance the president will make an announcement before Christmas, although it is his prerogative whether it is before the Christmas and New Year's holidays, but things are going very well," Bessent commented during an interview with the 'CNBC' channel, as reported by Europa Press.
