Sources: Bensont narrows Fed chair candidate list to five

According to CNBC, after a rigorous series of interviews, U.S. Treasury Secretary Jeffrey Bessant has narrowed his list of candidates for the Federal Reserve Chair from 11 to five. The final candidate may be nominated in January, but may not necessarily assume the chairmanship. According to senior Treasury officials, the remaining candidates include two current Fed officials: Vice Chairman for Supervision Bowman and Governor Waller; National Economic Council Director Hassett; former Fed Governor Anthony Warsh; and BlackRock Chief Information Officer Rick Rieder. The Treasury plans to conduct a new round of interviews with all five candidates in the coming weeks and months. These interviews will be led by Bessant and will include two senior Treasury officials and two senior White House officials. Because Bessant will be focused on the World Bank/IMF meeting in Washington next week before accompanying the president on an extended trip to Asia, officials indicate the interview process may not be completed until after Thanksgiving. Bessant then intends to present a smaller list to Trump, who will make the final decision. However, this person will likely be nominated first as a Fed governor and then as chair. (Jinshi)