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Donald Trump, during a Cabinet meeting at the White House on Tuesday, said he will name his pick for Federal Reserve chair “probably early next year.” That sets a new public timeline for replacing Jerome Powell, whose term ends in May 2026. Trump’s quote was: “We’ll be announcing somebody, probably early next year, for the new chairman of the Fed.” This new schedule runs past the earlier timeline shared by Treasury Secretary Scott Bessent, who had been overseeing the search and previously said a decision might come by Christmas. Trump’s team is keeping the final choice quiet for now, but the president’s message Tuesday locked in the fact that the name will drop sometime at the start of 2026, not before the end of this year. That gives him space to tighten control over the central bank, a goal he hasn’t been shy about. Trump goes after Powell again while Hassett’s odds climb Trump didn’t skip the chance to once again blast Powell over how he’s handled interest rates. He’s been pressuring the Fed for months, arguing that cuts should’ve come faster. On Tuesday, he said Powell a “stubborn ox, who probably doesn’t like your president.” Powell’s term as chair ends in May, but he could legally stay on the Fed board as a governor until 2028 if he’s not reappointed. The criticism wasn’t limited to interest rate policy. Trump’s White House has also taken aim at the Fed over the cost of building renovations, and is currently involved in a legal battle over Trump’s attempt to remove Fed Governor Lisa Cook from her seat. As for who might be taking Powell’s spot, the buzz is around Kevin Hassett, director of the White House National Economic Council. His name has jumped to the top of the shortlist, and Polymarket odds…

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Filed under: News - @ December 2, 2025 8:20 pm