Trump Administration Eyes New Fed Chair Candidates, Replaces IRS Commissioner

By / / Breaking News

Key Takeaways

  • President Trump's team is expanding its search for the next Federal Reserve Chair, adding new names to the list of potential candidates.
  • Among the new contenders for the top Fed role are James Bullard, former President of the St. Louis Federal Reserve, and Marc Sumerlin, a former adviser to George W. Bush.
  • Separately, President Trump is set to replace the current I.R.S. Commissioner, with Treasury Secretary Bessent temporarily stepping into the role.

Trump Broadens Search for Federal Reserve Chair

The Trump Administration is reportedly broadening its search for the next Federal Reserve Chair, introducing new names into consideration for the influential position. Sources indicate that the expanded list now includes prominent figures such as James Bullard and Marc Sumerlin.

James Bullard previously served as the President of the Federal Reserve Bank of St. Louis, a role from which he retired in July 2023. Known for his often hawkish stance on monetary policy, Bullard's potential appointment could signal a shift in the central bank's direction. Marc Sumerlin, on the other hand, brings experience from his time as an economic adviser during the George W. Bush administration, offering a different perspective to the pool of candidates. The selection of the Fed Chair is a critical decision that significantly influences U.S. monetary policy and, by extension, the global economy.

IRS Commissioner to Be Replaced, Bessent Steps In Temporarily

In a separate development, President Trump is moving to replace the current I.R.S. Commissioner. Treasury Secretary Bessent has been tapped to serve in the role temporarily, according to reports. This interim appointment suggests a forthcoming permanent change in leadership for the nation's tax collection agency.

The Internal Revenue Service (IRS) plays a vital role in the U.S. financial system, responsible for tax collection and enforcement. Changes in its leadership can impact tax policy implementation and administrative priorities. The temporary appointment of Treasury Secretary Bessent underscores the administration's immediate focus on ensuring continuity in the IRS's operations.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. We are not financial professionals. The authors and/or site operators may hold positions in the companies or assets mentioned. Always do your own research before making financial decisions.
Scroll to Top