US President Donald Trump said he will announce his nominee to be the next chair of the U.S. Federal Reserve next week as Federal Reserve Chair Jerome Powell’s term approaches its scheduled end in May 2026. Trump made the remarks during public appearances and in comments reported by multiple outlets, signalling an impending decision from the White House on U.S. central bank leadership.
Trump’s announcement follows weeks of speculation about his preferred successor to Powell and comes amid broader debate over U.S. monetary policy and interest rates. Reports from Reuters and other news organisations indicate that the nomination has drawn significant attention from markets and analysts, with several high-profile candidates under consideration.
Former Federal Reserve governor Kevin Warsh is widely reported as a leading contender for the role, having met with Trump at the White House and drawn attention in financial media amid speculation about the nomination. Other figures reportedly under consideration include Fed Governor Christopher Waller, BlackRock executive Rick Rieder, and White House economic adviser Kevin Hassett, according to U.S. Treasury and Reuters reporting.
The Federal Reserve chair plays a central role in guiding U.S. monetary policy, including decisions on interest rates and financial stability. Powell’s current term expires in May, and the choice of his successor could influence the central bank’s approach to inflation, lending costs, and economic growth. Trump has publicly advocated for lower interest rates, a position that has shaped expectations around his nominee’s likely policy stance.
The nomination must be confirmed by the U.S. Senate, a process that could involve hearings and votes in the coming weeks. The Senate confirmation process adds a layer of political scrutiny to the appointment, particularly given the high profile of the Federal Reserve’s role in financial markets and economic policy. Analysts note that markets have been closely watching developments around the nomination process, given its potential implications for global monetary conditions and risk assets.
Trump’s decision to announce a nominee next week comes amid ongoing debates over the Federal Reserve’s independence, the direction of monetary policy, and broader economic strategy in the United States. Observers will be watching for the formal announcement and subsequent Senate actions as they assess what the leadership change may mean for financial markets and the broader economy.
