PANews reported on November 19th that, according to US media reports, Trump stated that he believes he has identified his candidate for the next Federal Reserve Chairman, while claiming that someone is preventing him from firing the current central bank leader, Powell. Trump told a reporter, "I think I know my choice," but did not specify who it was. US Treasury Secretary Bessant stated that he has narrowed down the candidates to current Fed Governors Waller and Bowman, former Fed Governor Warsh, White House National Economic Council Director Hassett, and BlackRock executive Riedel. Trump said, "We have some surprising names, and some conventional names that everyone's talking about. We'll probably go the conventional way. It's good to occasionally go the politically correct route." Bessant had previously stated that he planned to submit his recommendations to Trump after the Thanksgiving holiday. The next Fed Chairman will have to maintain a careful balance: catering to Trump's desire for low interest rates while also maintaining investor confidence.

According to Fox News: U.S. Treasury Secretary Bessant stated that Trump will meet with three candidates for Federal Reserve Chair after Thanksgiving. "I can say with certainty that I will not become the Fed Chair," he said. President Trump may announce the next Fed Chair before Christmas.