List of 11 Candidates Who could Replace Fed Chair Jerome Powell

US Treasury Secretary Names 11 Fed Candidates to Replace Jerome Powell

In a recent post by a crypto enthusiast on X where a video involving U.S. Treasury Secretary Scott Bessent revealed names of strong candidates being considered to replace Jerome Powell as the Chairman of the Federal Reserve. Also highlighting the ongoing discussions about the central bank’s leadership and its influence on U.S. economic policy. 

The announcement was made during a Fox Business news segment, part of the "Making Money" program, and has sparked attention across both financial and political circles.

Source: X

Federal Reserve Leadership in the Spotlight

Tensions between Trump and the Federal Reserve have escalated in recent months, with allegations of mortgage fraud against Fed Governor Lisa Cook at Washington, D.C., offices, and the replacement of Powell at the same time. Trump has publicly criticized Powell, whose term runs until May 2026, and previously considered firing him—though he ultimately did not.

In this context, Bessent has begun interviewing candidates for the role to present a shortlist to Trump. “We’ll start interviews and present a shortlist to Donald Trump,” Bessent stated, highlighting the strategic and political importance of the Fed Chair selection.

In addition to deliberating on the possible successors, Bessent also spoke of a historic Fannie Mae and Freddie Mac deal, including the role of all the major banks involved and the implications of the whole situation on the stability of the U.S. economy. The possible succession of Powell underscores the fact that the independence of the Fed is still in question and the role of politics in monetary policy. 

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The Strong Candidates in Focus

Among the 11 candidates under consideration for a replacement of Jerome Powell, several notable figures stand out:

• Michelle Bowman, Vice Chair of Supervision at the Fed, has recently gone off track with the rate policies of Powell. 

• Christopher Waller: Fed Governor and veteran academic, Waller has advocated for rate cuts while stressing the independence.

• Lorie Logan: Dallas Fed president since 2022, Logan has been indicating that she is cautious about rate cuts.

• James Bullard: Former St. Louis Fed President, now dean at Purdue University’s Daniels School of Business, Bullard emphasized stable inflation, dollar value protection, and Federal independence.

• Stephen Miran: Recently nominated by Trump to the Fed Board, Miran previously chaired the White House Council of Economic Advisers.

• Kevin Hassett: Director of the National Economic Council and longtime Trump economic adviser.

• Kevin Warsh: Former Fed Governor and Morgan Stanley banker, Warsh has advocated for a “regime change” in policy and previously advised President George W. Bush.

• David Zervos: Chief Market Strategist at Jefferies, CNBC contributor, and potential candidate with connections to Trump's administration.

Among 11 candidates, 8 names are revealed by experts who could be the next Federal Reserve chairperson, replacing Jerome Powell. However,  other names are still in process. These nominees represent a combination of experience, economic philosophy, and fit with the economic priorities of Trump and Fedrel Reserve

Scott Bessent: Background and Expertise

Bessent is a financially experienced person appointed to the 79th U.S. Treasury Secretary in 2025. Bessent has a lot of influence on the economic strategy, including the communication with the Federal Reserve. Scott Bessent's participation in the debate about the possible replacement of Jerome Powell highlights the discussion of monetary policy by the larger economic objectives.

Implications for the Federal Reserve

The debate brings up the current issues with the independence of the Federal Reserve and the possibility of political figures in appointing its leaders. The politics and monetary policy have been intertwined, and this can be seen in recent appointments and nominations, including the nomination of Stephen Miran, which was meant to fill a Federal vacancy.

The debate is indicative of the stakes involved in the leadership since it plays a vital role in the determination of monetary policy, regulating inflation, and determining progress.