OAN Staff Brooke Mallory
1:04 PM – Wednesday, August 19, 2025
The Trump administration is now weighing 11 potential successors to Federal Reserve Chair Jerome Powell, whose term ends in May, including three contenders not previously disclosed — according to two administration officials who spoke on condition of anonymity.
The newly revealed names are David Zervos, chief market strategist at Jefferies; former Fed Governor Larry Lindsey; and Rick Rieder, BlackRock’s chief investment officer for global fixed income. They join eight other candidates already confirmed, among them Fed Vice Chair for Supervision Michelle Bowman, Fed Governor Chris Waller, and Fed Vice Chair Philip Jefferson. Also under consideration are Marc Sumerlin, former economic adviser to President George W. Bush; Dallas Fed President Lorie Logan; and former St. Louis Fed President James Bullard.
This development comes on the heels of Monday’s report that Treasury Secretary Scott Bessent was reviewing a “shortlist of three candidates” for the Federal Reserve chairmanship. The latest disclosures suggest that the president has since expanded the field, adding several more names to consideration.
In a recent interview with CNBC, President Trump also confirmed that Kevin Hassett, director of the National Economic Council, and former Fed Governor Kevin Warsh are among those under consideration as well.
According to administration officials, the selection process is “deliberative,” with Bessent set to interview each candidate, narrow the field, and present a final slate to Trump.
The expanded list and careful vetting process seemingly suggests that a decision is not imminent, though the officials declined to offer a specific timeline. The protracted selection process reduces the likelihood of a “shadow Fed chair” being installed months ahead of Powell’s departure — a scenario some analysts say could “unsettle monetary policy.”
On the other hand, other market analysts have noted that the potential appointment of certain candidates on the list could lead to favorable outcomes for investors.
Rieder’s advocacy for lower interest rates aligns with the administration’s goals and has been positively received by many in the financial community. Critics of Rieder, however, argue that his ties to BlackRock cast doubt on his trustworthiness, maintaining that he could be a “wolf in sheep’s clothing” despite projecting alignment with Trump’s agenda.
Rieder is BlackRock’s Chief Investment Officer for Global Fixed Income. In this role, he oversees the firm’s strategies and portfolios related to bonds and other fixed-income securities worldwide. He is responsible for shaping investment strategy, managing risk, and guiding teams that invest in government, corporate, and emerging market debt — as well as mortgage-backed securities.
Although Trump has frequently criticized Powell, he has tempered earlier suggestions that he would try to replace the Fed chair before the end of Powell’s term in May. While the pool of candidates includes individuals advocating varying degrees of reform at the Fed, most share a commitment to its independence and possess substantial experience in monetary policy and financial markets.
Stay informed! Receive breaking news alerts directly to your inbox for free. Subscribe here. https://www.oann.com/alerts
What do YOU think? Click here to jump to the comments!Sponsored Content Below