Archive · 29 Oct 2025
Trump Administration Seeks New Federal Reserve Chief as Powell's Term Nears End
The President of the United States is looking for a new leader for the country's central bank, called the Federal Reserve.
The current leader's job is ending soon.
The President has not been happy with how the current leader has been doing their job, especially with interest rates.
A team is looking at many people and has picked five finalists.
They hope to choose the new leader by December.
Some of the people being considered work at the Federal Reserve, some work for the government, and some work in finance.
This is an important decision because the Federal Reserve helps manage the country's economy.
The Trump administration is searching for a new chief of the Federal Reserve.
Current Fed Chair Jerome Powell's term is set to end in May next year.
President Trump has previously voiced his dissatisfaction with Jerome Powell's performance.
Treasury Secretary Scott Bessent is leading the search, which has shortlisted five candidates.
The administration aims to select a replacement by December.
- Who
- US President Donald Trump-led administration
- What
- Begun a search for the next Chief of Federal Reserve
- When
- Term of current Fed Chair Jerome Powell ends next May; selection likely by December.
- Where
- Washington D.C., USA
- Why
- US President Donald Trump has expressed dissatisfaction with current Fed Chair Jerome Powell and his policies.
- Current Fed Chair's Term End
- May next year
- Search Leader
- Treasury Secretary Scott Bessent
- Number of Candidates Shortlisted
- Five
- Potential Selection Timeline
- By December
- Location
- Washington D.C., USA