Key Takeaways
- Donald Trump is reportedly considering a list of 11 potential candidates for the next Federal Reserve Chair, with Jefferies (JEF) Chief Market Strategist David Zervos and BlackRock's (BLK) Chief Investment Officer for Global Fixed Income Rick Rieder emerging as prominent names.
- Former Fed Governor Larry Lindsey is also among the individuals being evaluated for the top central bank position.
- The extensive list of candidates signals a potential significant shift in the Federal Reserve's leadership and, consequently, its monetary policy direction as current Chair Jerome Powell's term is set to expire in May 2026.
The Trump administration is reportedly evaluating 11 candidates to potentially replace Federal Reserve Chairman Jerome Powell when his term concludes in May 2026, according to recent reports from CNBC. This broad search highlights the former president's intent to reshape the nation's central bank leadership.
Among the newly disclosed names on the list are David Zervos, Chief Market Strategist at Jefferies (JEF), and Rick Rieder, who serves as Chief Investment Officer for Global Fixed Income at BlackRock (BLK). Both are well-known figures in financial markets. Larry Lindsey, a former Federal Reserve Governor, is also reportedly under consideration.
These individuals join a broader pool of candidates that includes current Fed officials such as Vice Chair for Supervision Michelle Bowman, Governor Chris Waller, and Vice Chair Philip Jefferson. Other notable names reportedly being considered are Marc Summerlin, Dallas Fed President Lorie Logan, former St. Louis Fed President James Bullard, National Economic Council Director Kevin Hassett, and former Fed Governor Kevin Warsh.
The speculation surrounding Trump's potential picks could introduce significant uncertainty into financial markets, given the Federal Reserve's critical role in shaping monetary policy and influencing economic stability. A change in leadership could lead to a different approach to interest rates, inflation management, and overall economic strategy. Rick Rieder of BlackRock, for instance, has recently suggested the Fed might consider a larger 0.5 percentage point rate cut in September, citing weaker-than-expected inflationary pressures.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.