U.S. Treasury Secretary: The selection of a new Federal Reserve Chairman will begin in the fall

Odaily News U.S. Treasury Secretary Bessant said there are many excellent candidates for the Fed chairman, and the work will begin in the fall. Earlier, according to the Wall Street Journal on June 25, U.S. President Trump is considering nominating the next Fed chairman in advance to weaken the influence of the current chairman Powell, who currently has 11 months left in his term as Fed chairman. People familiar with the matter revealed that Trump is considering selecting and announcing Powell's successor by September or October, "and Trump's anger with Powell may cause him to announce his successor earlier sometime this summer." Trump considered former Federal Reserve Board member Kevin Warsh and White House National Economic Council Director Kevin Hassett. In addition, people familiar with the matter revealed that someone recommended Treasury Secretary Bessant as a potential candidate; other competitors include former World Bank President Malpass and Federal Reserve Board member Christopher Waller. (Jin Shi)