US President Donald Trump on Wednesday indicated he is narrowing down on his choice for the next Chairperson of the Federal Reserve to replace current Fed Chair Jerome Powell.
In an interview with CNBC on the sidelines of the World Economic Forum 2026 in Davos, Switzerland, Trump hinted that he has a candidate in mind who may succeed Powell.
The search for the next Fed Chair, which began in September and included as many as 11 candidates at one point, is nearing its end, Trump told the TV channel.
“I’d say we’re down to three, but we’re down to two. And I probably can tell you, we’re down to maybe one, in my mind,” Trump told CNBC.
However, he refrained from naming the one candidate who will possibly become the next Fed Chair.
The 11 candidates in Trump's list comprised past and current Fed officials, economists and Wall Street investors.
Former Fed Governor Kevin Warsh, current Governor Christopher Waller, National Economic Council chief Kevin Hassett and BlackRock fixed-income head Rick Rieder were believed to be the four finalists in the race.
Trump said in the interview that Rieder was the last to interview and called him “impressive”, while praising all the other candidates too. Treasury Secretary Scott Bessent led the interview process.
In recent days, Hassett had emerged as the top runner for the post of the Fed Chair until Trump said he preferred him to stay at the NEC, hinting that he was out of the competition.
“I like actually keeping him where he is,” Trump said.
Trump doubles down on Jerome Powell
With Jerome Powell's tenure as Fed Chair ending soon, Trump was asked whether he would stay on at the US central bank to serve for another two years as its governor. If Powell stays, he would still have a say in how the monetary policy decisions are made.
“We live with the cards you’re dealt,” he said. “If that happens, his life won’t be very, very happy, I don’t think, by doing it. I think he wants to get out. He has not done a good job.”
The Trump administration has intensified its fight against the current Fed chair, issuing subpoenas hinting at a possible criminal probe into the central bank’s renovation of its Washington headquarters.
