Yeliz Akmaca 
U.S. Treasury Secretary Scott Bessent announced in a Bloomberg Television interview that the formal process has begun to find a successor to Jerome Powell as Federal Reserve Chair. The statement came during a televised conversation on Bloomberg TV.
Bessent stated, “There are many strong candidates. We’ll see how things develop depending on the pace of the process.” Meanwhile, current Fed Chair Jerome Powell’s term is set to end in May 2026. However, Bessent emphasized that reappointing Powell at the end of his term could cause confusion in the markets. He also noted that the pace of the process would directly depend on Trump’s decisions.
In financial circles, Powell’s potential reappointment has long been debated. In recent months, increasing political pressure and disagreements over monetary policy have further intensified these discussions.
Trump Pressures Powell: Political Tension Grows
U.S. President Donald Trump has been one of the voices accelerating the process, stating that Powell should leave office. Trump argued that the Fed’s failure to cut interest rates on time has harmed the U.S. economy.
As political pressure mounts, uncertainty is also building in the financial markets. According to Polymarket data, names such as Kevin Warsh, Kevin Hassett, and Scott Bessent are emerging as leading candidates for the next Fed chair.
All three are known figures in public discourse regarding economic policy. Bessent’s current position and influence in the markets place him at the top of the list. Despite Powell’s term lasting until 2026, the early search for a successor signals the White House’s intention to be more directly involved in monetary policy.
Meanwhile, an official timeline for the process has not yet been released. However, sources indicate that the list of candidates will be narrowed down in the coming months. The race for the Fed chair is not only capturing the attention of financial circles but also directly impacting politics. Ultimately, the direction of U.S. monetary policy will play a critical role for markets ahead of the presidential election.
As the selection process continues, investors will closely monitor every development.
You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.