President Donald Trump is reportedly considering a roster of 11 candidates to succeed Federal Reserve Chair Jerome Powell when his term ends in May 2026, according to a CNBC report. The expanded slate of contenders includes three names not previously disclosed: Jefferies Chief Market Strategist David Zervos, former Fed Governor Larry Lindsey, and BlackRock’s Chief Investment Officer for global fixed income, Rick Rieder.These additions join eight other individuals already on the shortlist. Among them are Fed Vice Chair for Supervision Michelle Bowman, Fed Governor Christopher Waller, Fed Vice Chair Philip Jefferson, Dallas Fed President Lorie Logan, and former St. Louis Fed President James Bullard.
The list also includes National Economic Council Director Kevin Hassett and former Fed Governor Kevin Warsh.
The inclusion of Zervos, Lindsey, and Rieder expands the pool to a diverse group drawn from both public service and financial sector leadership. Trump’s widening candidate field suggests no imminent decision, according to CNBC, and pushes back against the prospect of naming a so-called “shadow Fed chair” ahead of Powell’s departure.Meanwhile, the broader search reflects a balancing act for the administration—seeking a successor who aligns with Trump’s preference for interest rate cuts while also retaining credibility with markets. Many on the list have advocated for greater monetary easing, which aligns with Trump’s economic stance.
The list also includes National Economic Council Director Kevin Hassett and former Fed Governor Kevin Warsh.
The inclusion of Zervos, Lindsey, and Rieder expands the pool to a diverse group drawn from both public service and financial sector leadership. Trump’s widening candidate field suggests no imminent decision, according to CNBC, and pushes back against the prospect of naming a so-called “shadow Fed chair” ahead of Powell’s departure.Meanwhile, the broader search reflects a balancing act for the administration—seeking a successor who aligns with Trump’s preference for interest rate cuts while also retaining credibility with markets. Many on the list have advocated for greater monetary easing, which aligns with Trump’s economic stance.
Treasury Secretary Scott Bessent is reportedly taking the lead in the selection process, conducting interviews and preparing a shortlist of finalists for the president’s consideration. While some speculated Trump might name a successor early to shape investor expectations, CNBC’s reporting suggests that approach may be off the table for now.
