According to Treasury Secretary Scott Bessent, the United States President has practically decided on Powell's successor
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The United States Treasury Secretary, Scott Bessent, confirmed this Friday that President Donald Trumphas reduced to four people the list of possible candidates to assume the chair of the Federal Reserve, once Jerome Powell's term as chair of the institution ends next May 15.
In statements to Fox Business, Bessent indicated that the final decision could be known in the coming days, around the time of the World Economic Forum in Davos.
According to Bessent, it will be Powell's decision whether he remains at the Federal Reserve as governor after his term as chair concludes. Meanwhile, the White House is evaluating profiles with very different trajectories and views on monetary policy and the role of the central bank.
Bessent señaló que la decisión final se podría conocer en los próximos días
Michelle Bowman
Among the names under consideration is Michelle Bowman, current governor and vice chair of the Federal Reserve. Originally appointed in 2018 and reconfirmed in 2020, Bowman is the first representative with experience in community banking to occupy the seat reserved for that sector on the Board of Governors.
With a conservative orientation, she has repeatedly expressed her concern about inflationary risks and has defended a prudent monetary policy. Bowman has emphasized the importance of a solid banking system, particularly to support rural communities and small businesses, and she has been a strong defender of the Fed's independence from political pressure.
Her institutional and technical profile positions her as a continuity option, although Bessent suggested that her best contribution could be to remain in her current position.
Bowman es la actual vicepresidente de la FED y aparece como una de las principales candidatas a suceder a Powell
Kevin Hassett
Another candidate is Kevin Hassett, current director of the White House National Economic Council and former chair of the Council of Economic Advisers during Trump's first term.
An economist with a strong pro-market profile, Hassett was a key figure in the design of the 2017 tax reform and he is an advocate of deregulation and policies aimed at stimulating growth.
He has been critical of the Federal Reserve because he believes some of its decisions have limited economic expansion. His closeness to Trump means that his possible appointment would be interpreted as a political shift in the leadership of the Fed.
Kevin Hassett formó parte del Consejo de Asesores Económicos del primer gobierno de Trump
Kevin Warsh
The list also includes Kevin Warsh, former Federal Reserve governor between 2006 and 2011 and adviser during the 2008 financial crisis. With experience on Wall Street and in the public sector, Warsh is known for his critical stance toward prolonged periods of expansionary monetary policy.
He has advocated for a greater emphasis on price stability, as well as more transparency and accountability within the central bank. Close to Republican circles, he was already considered by Trump for the position in 2018, and his appointment would be seen as a signal of a more restrictive monetary policy.
Warsh fue previamente considerado por Trump para dirigir la Reserva Federal
Rick Rieder
The fourth name is Rick Rieder, chief investment officer of global fixed income at BlackRock. With decades of experience in financial markets, Rieder is widely respected for his macroeconomic vision and his practical knowledge of monetary policy.
He has advocated for lower interest rates as a tool to sustain growth and ease the debt burden. His profile, more closely linked to markets than to politics or the internal structure of the Fed, would mark a pragmatic approach, although not free from debate because of his connection with one of the largest asset managers in the world.
Rieder es el actual director de inversiones de renta fija a nivel global de BlackRock
