Fed chair shortlist narrows
Waller is joined on the shortlist by Fed Vice Chair for Supervision Michelle Bowman, National Economic Council Director Kevin Hassett, former Fed Governor Kevin Warsh, and BlackRock Fixed Income CIO Rick Rieder, according to senior Treasury officials who spoke to CNBC.
The field was trimmed from 11 candidates to five after a series of interviews—some lasting up to two hours—conducted by Bessent and his team. The selection process is expected to continue into the coming months, with a nomination possible by January.
Bowman is known for her regulatory expertise, while Hassett brings a background in economic policy from his time at the White House.
Warsh, a former Fed governor, is recognized for his crisis-era experience. Rieder, the only candidate without Fed experience, has drawn praise for his market insight and management at BlackRock.
Policy and independence in focus
The Trump administration’s open approach to the selection process and its vocal criticism of Fed policy have placed additional scrutiny on the central bank’s independence.