Presidents typically announce their nominees for Fed chair three to six months before the sitting person’s term expires, quietly navigating Senate confirmation hearings while minimizing market disruption.

A growing chorus of advisers inside and outside the Trump administration are pushing another name to serve as the next chair of the Federal Reserve: Treasury Secretary Scott Bessent.

Advisers are suggesting Treasury Secretary Scott Bessent as a potential successor to Jerome Powell as Federal Reserve chair. While Kevin Warsh, a former Fed official, is also under consideration, Bessent's leadership in economic initiatives and trade negotiations positions him as a strong contender.