The guessing game over who will be tapped by President Donald Trump as his new Federal Reserve chief will go on a little longer.
The president said on Tuesday he would announce his choice to succeed Jerome Powell as head of the Federal Reserve early next year, according to Reuters.
That further stretches out a months-long audition process even though Trump reportedly said he already knows who he will pick to lead the world’s most important central bank.
During remarks at a cabinet meeting, the president said Treasury Secretary Scott Bessent, who has led the search process for a new Fed chief, does not want the top Fed job, and Trump did not indicate who his preference may be.
On Sunday, Trump told reporters he knows who he plans to pick as the successor to Powell, whose tenure as Fed chief comes to an end in May, but he would not answer when asked if that choice was Kevin Hassett, 63, his top economic adviser and reportedly the favorite in online wagering markets.
Trump Says His List is Down to One Person
Trump said again on Tuesday that he has narrowed the list to one person, after saying in November he thought he knew who his choice would be.
“I guess a potential Fed chair is here too. Am I allowed to say that? Potential. He’s a respected person, that I can tell you. Thank you, Kevin,” Trump said at a White House event on Tuesday.
Hassett chaired the White House’s Council of Economic Advisers during Trump’s first term, and he has proven his loyalty to the president through regular, if not weekly, television appearances on CNBC, Fox News and other channels, where he has endorsed the president’s sweeping import tariffs and calls for lower interest rates.
Hassett’s office is in the West Wing of the White House and he also has direct access to the president and has helped shape his views on trade and economic issues, as well as monetary policy, Reuters said.
The news agency said that other contenders to succeed Powell include two sitting Fed governors – Michelle Bowman and Christopher Waller – former Fed Governor Kevin Warsh and BlackRock’s Rick Rieder.
Bessent said two rounds of interviews have been completed with each of them and that he was planning to present a narrowed list of finalists to Trump and other White House officials this month.
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