Trump has hinted that he has already picked a new head of the U.S. Federal Reserve. Powell's term expires in May

US President Donald Trump hinted on Tuesday, November 18, that he has decided on a candidate to succeed Jerome Powell as Fed chairman, Yahoo Finance reports . "I think I already know my choice," Trump told reporters when asked who would next lead the regulator. Powell's term expires in May, and the president had intended to announce a decision by the end of 2025.

Trump said he has already begun interviewing applicants to head the Fed. "We have some surprise names and some standard names that everybody's talking about," he said. - And we can go the standard route. Sometimes it's nice to be politically correct."

In October, U.S. Treasury Department chief Scott Bessent said their circle had been narrowed to five final candidates: current Fed Board of Governors members Christopher Waller and Michelle Bowman, former Fed Governor Kevin Warsh, White House National Economic Council Director Kevin Hassett and top BlackRock executive Rick Reeder.

Trump reiterated Tuesday that his favorite is still Bessent himself, but that the president says he doesn't want the position and will decline.

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