U.S. Treasury Secretary: Selection of a new Federal Reserve Chair will begin in the fall
2025-07-03 16:24:53
On July 3 local time, US Treasury Secretary Vincent said that there are many good candidates for Federal Reserve chairperson, and the work will begin in the autumn. Previously, according to the "Wall Street Journal" report on June 25, US President Trump is considering early nomination of the next Federal Reserve chairperson in order to weaken the influence of the current chairperson Powell, who currently has 11 months left in his term as the Federal Reserve chairperson. According to people familiar with the matter, Trump is considering selecting and announcing Powell's successor by September or October, "and Trump's anger at Powell may lead him to announce his successor earlier sometime this summer." Mr. Trump is considering Kevin Walsh, a former Fed governor, and Kevin Hassett, director of the White House National Economic Council. In addition, people familiar with the matter said that Treasury secretary Vincent Bescent was being recommended as a potential candidate; other contenders include former World Bank president Malpass and Fed governor Christopher Waller.
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