Michaela
Summary: Who are some of the candidates being considered to replace Jerome Powell as Fed chair?
The Trump administration has reportedly begun reviewing a list of 11 potential candidates to succeed Federal Reserve Chair Jerome Powell when his term ends in May, with several who have signaled crypto-friendly positions.
According to a report by CNBC, potential candidates to succeed Powell as fed chair include Jefferies Chief Market Strategist David Zervos, former Fed Governor Larry Lindsey, and BlackRock CIO for global fixed income Rick Rieder. They join a list of eight other contenders, including Fed Vice Chair for Supervision Michelle Bowman and Fed Governor Chris Waller.
Officials told CNBC that Treasury Secretary Scott Bessent will conduct interviews with all candidates, narrow the list, and submit a final selection to the president. The number of candidates and the described process indicate that a decision is not expected soon and could take significant time. However, the officials declined to provide a specific timeline.
Analysts have noted that a prolonged selection process may prevent a “shadow Fed chair” from being appointed months before Powell’s term ends, potentially creating uncertainty for monetary policy.
The announcement of potential candidates to succeed Powell comes after reports that President Donald Trump has removed Federal Reserve Governor Lisa Cook from her post.
A letter from President Trump has formally removed Federal Reserve Governor Lisa Cook from her post, citing alleged misconduct. Trump claimed Cook made false statements on mortgage documents, pointing to instances where she certified different properties as her primary residence within weeks. He argued that the public must have full confidence in officials overseeing Federal Reserve policy and regulatory duties, stating that Cook’s actions undermine that trust.
Conflict between President Trump and the Federal Reserve is longstanding. In November 2024, Powell made clear he would not resign at the president-elect’s request, stressing that the White House does not have the power to dismiss him.
The situation raises broader questions about the potential impact of Fed leadership changes on U.S. monetary policy, including interest rate decisions, market stability, and investor confidence.
As the process unfolds, market participants and policymakers alike will be closely watching how these developments shape economic strategy in the months ahead.
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
