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President Donald Trump reportedly has 11 candidates in mind to replace Federal Reserve Chairman Jerome Powell when his term expires in May, including three names that had not been disclosed before.
According to a report by CNBC, the list now includes Jefferies Chief Market Strategist David Zervos, former Fed Governor Larry Lindsey, and Rick Rieder, chief investment officer for global fixed income at BlackRock.
Here’s the full list:
Kevin Hassett
Kevin Warsh
Rick Rieder
David Zervos
Larry Lindsey
Michelle Bowman
Chris Waller
Philip Jefferson
Marc Summerlin
Lorie Logan
James Bullard
Earlier this month, Trump said that he had four candidates in mind for the Fed Chair position, adding that U.S. Treasury Secretary Scott Bessent was not among the contenders. At the time, he only named three people—Hasset, Warsh, and Waller — who are included in the 11-person roster.
While the list suggests that a decision on Powell’s successor may be imminent, officials did not share a timeline with CNBC. They said that it would be a “deliberative process” where Bessent would be interviewing all the candidates and shortlisting the top names to pass on to the President for his consideration.
Trump has made no secret of his dissatisfaction with Powell and the Federal Reserve for not cutting interest rates. However, the President has denied reports that he may fire or replace Powell before the Fed Chair’s term comes to an end.
U.S. markets opened in the green on Wednesday, with the S&P 500 and Nasdaq hitting fresh record highs. The S&P 500 rose around 0.48% to hit an intra-day high of 6,480, and the Nasdaq gained 0.53% to reach an intra-day high of 23,969.
The SPDR S&P 500 ETF (SPY) rose 0.54% in pre-market trade, while Invesco QQQ Trust (QQQ) gained 0.51%. Retail sentiment around the S&P 500 ETF and QQQ on Stocktwits was in the ‘neutral’ territory.
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