Tuesday, August 26, 2025

Trump eyes 11 candidates to replace Fed Chair Powell in 2026: All you need to know

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1. David Zervos: Chief Market Strategist at Jefferies LLC and Head of Global Macro Division at Leucadia Asset Management. Joined Jefferies in 2010 after serving as a visiting advisor at the Federal Reserve in 2009. Previously managed global macro portfolios at Brevan Howard and UBS O’Connor. Holds a PhD in Economics from the University of Rochester. Known for insightful macroeconomic commentary and frequent media appearances. (Reuters photo)

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2. Larry Lindsey: Former Federal Reserve Governor (1991–1997), bringing deep institutional knowledge. Served as Director of the National Economic Council under President George W. Bush. Known for his expertise in monetary policy and economic strategy, Lindsey advocates for policies supporting economic growth. Currently leads The Lindsey Group, a global economic advisory firm. His experience makes him a strong contender for Fed Chair. (Bloomberg photo)

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3. Rick wheels: Chief Investment Officer of Global Fixed Income at BlackRock, managing significant investment portfolios. Renowned for his expertise in market dynamics and fixed-income strategies. Rieder’s private-sector experience and market insights position him as an outside candidate with a fresh perspective. Frequently featured in financial media, he emphasises data-driven monetary policy approaches. (Reuters photo)

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4. Michelle Bowman: Federal Reserve Governor and Vice Chair for Supervision since 2018. Known for her views on tariffs as non-inflationary and her support for certain Trump policies. Bowman brings current Fed experience and a regulatory focus. Her recent speeches highlight a practical approach to monetary policy, making her a notable candidate. (Reuters photo)

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5. Chris Waller: Federal Reserve Governor since 2020, with extensive monetary policy experience. Previously served as Executive Vice President at the Federal Reserve Bank of St. Louis. Waller’s expertise in contemporary monetary policy makes him a leading candidate. He advocates for data-driven decisions and Fed independence, balancing market stability and policy goals. (Reuters photo)

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6. Philip Jefferson: Federal Reserve Vice Chair since 2023, with a background in economics and academia. Served as a professor and held roles at the Federal Reserve Board. Jefferson’s experience in monetary policy and economic research positions him as a candidate with insider knowledge, emphasising stability and gradual policy adjustments. (Reuters photo)

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7. Kevin Hassett: Former Director of the National Economic Council under Trump and Chairman of the Council of Economic Advisers. Known for supporting tax cuts and deregulation, Hassett aligns with Trump’s economic vision. His policy experience and loyalty make him a strong contender, though his focus is more on fiscal than monetary policy. (Reuters photo)

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8. Kevin Warsh: Former Federal Reserve Governor (2006–2011) and a close Trump ally. Advocated for monetary policy reform and rate cuts during his tenure. Warsh’s experience and alignment with Trump’s economic goals make him a prominent candidate. Currently a visiting fellow at Stanford’s Hoover Institution, he brings a mix of Fed and market expertise. (Reuters photo)

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9. James Bullard: Former President of the Federal Reserve Bank of St. Louis (2008–2023), known for his monetary policy expertise. Bullard has advocated for flexible inflation targeting and rate adjustments. His extensive Fed experience and academic background in economics position him as a candidate with deep institutional knowledge and a pragmatic approach. (Reuters photo)

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10. Marc Sumerlin: Former Deputy Director of the National Economic Council under President George W. Bush. Co-founder of Macroeconomic Advisers, Sumerlin brings economic policy expertise and private-sector experience. His focus on fiscal and monetary policy coordination makes him a less conventional but viable candidate for Fed Chair. (Bloomberg photo)

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11. Lorie Logan: President of the Federal Reserve Bank of Dallas since 2022. Previously held senior roles at the Federal Reserve Bank of New York, managing key operations like the System Open Market Account. Logan’s insider experience and operational expertise in monetary policy implementation make her a strong candidate for the role. (Reuters photo)

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