Treasury Secretary Scott Bessent on Tuesday announced he is wrapping up interviews with candidates to succeed Federal Reserve Chair Jerome Powell, saying the Trump administration could reveal the final pick by the end of the year.
Bessent is nearing the end of selecting candidates to recommend to President Donald Trump to replace Powell, whose term expires in May.
In an update on the process this week, Bessent said he is looking for someone able to navigate what he described as a “very complicated operation” at the Fed. The Treasury Secretary has narrowed the list from eleven to five candidates, and Trump will likely announce his final decision “before the Christmas holidays,” Bessent added during a CNBC interview.
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“So we’re going to have the last interview in
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