Trump's Final Four: The Race to Lead the Federal Reserve

President Donald Trump has announced that he is narrowing down his shortlist of candidates to replace Jerome Powell as the chair of the Federal Reserve. Among the contenders are Kevin Hassett, director of the National Economic Council, and Treasury Secretary Scott Bessent.

Trump is also considering former Fed Governor Kevin Warsh and current Fed Governor Christopher Waller to fill the high-profile role. The decision is strategic, as the president is seeking a Federal Reserve leader more aligned with his agenda for rapid interest-rate cuts.

The selection of the next Fed chair will have significant implications for financial markets, which are sensitive to changes in Fed leadership due to its effect on interest rates, inflation policy, and the autonomy of the central bank.

(With inputs from agencies.)