Trump Admin Interviews Top Fed Chair Contenders Ahead of 2025 Transition

Treasury Secretary Scott Bessent will conduct personal interviews with leading candidates for the upcoming Federal Reserve Chair position, as the administration moves forward with its selection process ahead of the 2025 transition [1]. The interviews are expected to span the coming weeks, with final recommendations to be submitted to President Donald Trump by the fall [2]. Trump will meet with the shortlisted candidates before making his decision on who will lead the central bank into the next chapter of U.S. monetary policy.

Among the top contenders are current Fed officials Michelle Bowman, Philip Jefferson, and Lorie Logan. Bowman, the Fed’s vice chair for supervision, has shown a willingness to cut interest rates, aligning with Trump’s expressed desire for lower borrowing costs. Jefferson, a Fed board member and Biden appointee, has maintained a stance of rate stability and is seen as a bipartisan candidate. Logan, president of the Dallas Fed, has similarly supported holding rates steady and has voiced concerns over inflationary pressures linked to tariffs [3]. Bessent will also interview other potential candidates, including Trump’s economic adviser Kevin Hassett, Fed Governor Christopher Waller, and former Fed officials Kevin Warsh and James Bullard [4].

The nomination of Stephen Miran to the Fed’s Board of Governors has given the administration more time to deliberate on the chair selection. Miran’s confirmation will fill a vacancy left by Adriana Kugler, whose departure earlier than expected allowed the White House to delay the chair nomination. With no urgency to finalize the selection, Bessent is tasked with ensuring the process remains thorough and competitive.

Trump has been vocal in his criticism of current Fed Chair Jerome Powell, whose term ends in May 2025. If Powell chooses to remain in the role as a Fed governor until 2028, the administration will need to either promote someone to chair from within the existing board or appoint a new official. Both options require Senate confirmation, adding a layer of political complexity to the process [5].

Bessent has emphasized the importance of selecting a chair who can “review the entire organization,” signaling a desire for leadership that can assess the Fed’s evolving role in the economy [3]. This includes re-evaluating the central bank’s responsibilities beyond traditional monetary policy, particularly in times of economic uncertainty. The selection is expected to shape how the Fed navigates inflation, interest rates, and economic pressures in the years to come.

Trump’s preference for rate cuts and skepticism toward high borrowing costs continues to influence the search, with candidates who support a more accommodative stance gaining attention. The interviews will also assess each contender’s policy positions, leadership experience, and potential to unify the Federal Open Market Committee. Whoever is ultimately selected will play a pivotal role in guiding U.S. monetary policy amid heightened scrutiny from markets, Congress, and the White House [4].

The next Fed chair will take office during a period of economic transition, with their decisions likely to affect inflation control, financial markets, and the broader economic outlook. As the interviews proceed, the final choice will reflect a balance between Trump’s priorities and the need for a Fed leader with the credibility and expertise to navigate a complex economic environment.

Source:

[1] [Fed Chair Search Expands to Include Bowman, Jefferson ...](https://news.bloomberglaw.com/banking-law/bessent-expands-fed-chair-search-to-bowman-jefferson-and-logan)

[2] [Bessent adds Bowman, Jefferson, Logan to Fed chair search](https://www.msn.com/en-us/money/markets/bessent-adds-bowman-jefferson-logan-to-fed-chair-search-report/ar-AA1Kkcdl?ocid=finance-verthp-feeds)

[3] [U.S. Treasury Wants Next Federal Reserve Chair to “ ...](https://www.fxleaders.com/news/2025/08/11/u-s-treasury-wants-next-federal-reserve-chair-to-review-the-entire-organization/)

[4] [Trump admin expands Fed chair search to 3 more candidates](https://nypost.com/2025/08/11/business/trump-admin-expands-fed-chair-search-to-three-more-candidates/)

[5] [Treasury Secretary Scott Bessent outlined the qualities ...](https://www.facebook.com/Benzinga/posts/treasury-secretary-scott-bessent-outlined-the-qualities-that-he-thinks-the-next-/132****676448966/)