President Donald Trump will begin the final round of interviews for candidates to lead the Federal Reserve this week, advancing the formal selection process that started over the summer.
“We’re going to be looking at a couple of different people, but I have a pretty good idea of who I want,” Trump told reporters Tuesday night aboard Air Force One. The interviews, conducted alongside Treasury Secretary Scott Bessent, will start with former Fed Governor Kevin Warsh on Wednesday and will also include Kevin Hassett, director of the National Economic Council, among others. The process had been briefly disrupted last week when some interviews were unexpectedly canceled.
Trump has indicated he knows who he wants to succeed current Fed Chair Jerome Powell, though speculation has centered on Hassett. Some investors, particularly in fixed income, have expressed concern that Hassett might maintain overly low rates, even if inflation increases, raising questions about market confidence. It is unclear whether this round of interviews signals a potential change in Trump’s choice or is simply the final step in confirming the selection.
The final interview slate includes four of the previously reported five candidates: Kevin Warsh, Kevin Hassett, current Fed Governors Christopher Waller and Michelle Bowman, and BlackRock fixed income chief Rick Rieder. The Fed is expected to reduce interest rates for a third time this year at the upcoming Federal Open Market Committee meeting, though Powell, whose term ends in May, is likely to maintain a cautious outlook on the pace of future cuts. Trump has emphasized that candidates will be evaluated on their willingness to continue lowering rates to support his economic priorities.