People familiar with the matter said that such a move would allow Trump to avoid rushing a permanent nomination and preserve flexibility ahead of Fed Chair Jerome Powell’s term ending in May 2026.

Trump confirmed Treasury Secretary Scott Bessent declined the role, saying, “I want to work with you,” while market-watchers weigh how each candidate could impact Fed independence and dollar strength.

President Donald Trump wants to lower interest rates to approximately zero, a change that could goose the economy in the short term but in the long term would lead to roaring inflation. Federal Reserve Chairman Jerome Powell won't do that,

President Donald Trump is actively seeking a new leader for the Federal Reserve, aiming for someone more aligned with his economic policies. With Jerome Powell's term nearing its end, Trump has shortlisted candidates who could potentially steer the Fed towards lower interest rates,