On 13/8, CNBC, citing sources familiar with the matter, reported that the administration of US President Donald Trump is considering 11 candidates to replace Federal Reserve (Fed) Chair Jerome Powell, whose term ends in 5/2026.

The new names are Jefferies market strategist David Zervos, former Fed Governor Larry Lindsey, and BlackRock Chief Investment Officer Rick Rieder.

President Donald Trump at the White House on 6/8. Photo: AP

President Donald Trump at the White House on 6/8. Photo: AP

CNBC previously confirmed eight other candidates: Fed Vice Chair for Supervision Michelle Bowman, Fed Governor Chris Waller, Fed Vice Chair Philip Jefferson, former economic advisor to President George W. Bush Marc Summerlin, Dallas Fed President Lorie Logan, and former St. Louis Fed President James Bullard.

In a recent interview with CNBC, Trump said White House Economic Advisor Kevin Hassett and former Fed Governor Kevin Warsh are also under consideration.

CNBC's source said the candidates will undergo a thorough vetting process. Treasury Secretary Scott Bessent will interview all of them, narrow down the list, and present the final names to President Trump.

The number of potential candidates and the expected process suggest a decision won't be made soon. However, the longer the process takes, the less likely it is to disrupt the Fed's operations. Analysts previously worried that an early announcement of a successor would diminish Powell's role.

For several months, President Trump has publicly expressed his displeasure with the Fed's reluctance to cut interest rates. He has stated that he will only nominate someone who supports lower rates as the next Fed chair. Trump threatened to fire Powell in April but later affirmed he would not seek to replace him before his term ends.

The candidates Trump is considering have varying views on interest rates and Fed reforms. However, most have experience in finance and monetary policy and support the central bank’s independence.

Ha Thu (according to CNBC, Reuters)