"The president told reporters about the announcement at the premiere for Melania, the film about first lady Melania Trump. Friday's announcement will end a months-long selection process that has fueled discussion about the future direction of the country's central bank. Trump has considered four final candidates to lead the Federal Reserve: National Economic Council Director Kevin Hassett, Federal Reserve Gov. Christopher Waller, former Fed Gov. Kevin Warsh and BlackRock executive Rick Rieder."
"U.S. Treasury Secretary Scott Bessent has been overseeing the search since the summer and helped narrow a broader list of candidates. Trump had said earlier he would announce his choice next week but later suggested the timeline had moved up. The nominee would first be appointed as a Fed governor. The incoming governor will begin a 14-year term Feb. 1, succeeding Stephen Miran, who filled the seat after Adriana Kugler's resignation in August 2025."
"The nominee could face a tough Senate confirmation after the Justice Department issued grand jury subpoenas as part of a probe into Fed Chair Jerome Powell, sparking bipartisan criticism. Senators Thom Tillis (R-N.C.) and Elizabeth Warren (D-Mass.) accused President Trump of using the investigation to pressure Powell to resign and assert political control over the central bank. Tillis, a Republican member of the Senate Banking Committee, has pledged to block any Fed nominees until the Justice Department completes its probe."
President Trump will announce a nominee for a Federal Reserve governor Friday from four finalists amid a DOJ probe of Fed Chair Jerome Powell and possible Senate opposition. The finalists include Kevin Hassett, Christopher Waller, Kevin Warsh and Rick Rieder. Treasury Secretary Scott Bessent has overseen the search and narrowed the field. The nominee would first be appointed as a Fed governor and begin a 14-year term Feb. 1, succeeding Stephen Miran, who filled the seat after Adriana Kugler's August 2025 resignation. Grand jury subpoenas in the DOJ probe have prompted bipartisan criticism and threats to block confirmations. Hassett had been a frontrunner but faced criticism over his remarks about the probe. The announcement signals a new phase in the president's clash with the Fed over rate policy.
Read at www.housingwire.com
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