Race for Fed Chair: Who Will Lead?

U.S. Treasury Secretary Scott Bessent is spearheading the search for a new Federal Reserve Chair to succeed Jerome Powell. Candidates reportedly include former St. Louis Fed President James Bullard, economic adviser Marc Sumerlin, NEC director Kevin Hassett, former governor Kevin Warsh, and current governor Christopher Waller.

Devdiscourse News Desk | Washington DC | Updated: 09-08-2025 02:22 IST | Created: 09-08-2025 02:22 IST

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U.S. Treasury Secretary Scott Bessent is at the forefront of the quest to find a replacement for Federal Reserve Chair Jerome Powell, according to sources familiar with the matter. An expanded list of high-profile candidates is currently under review.

Among those being considered are former St. Louis Fed President James Bullard and Marc Sumerlin, who served as an economic adviser to President George W. Bush, according to the same source who confirmed a report by the Wall Street Journal.

Also in the running are National Economic Council Director Kevin Hassett, ex-Fed governor Kevin Warsh, and current sitting governor Christopher Waller, the source indicated.

(With inputs from agencies.)