The search for a new Federal Reserve chair has narrowed down, with five candidates selected from the pool of possible nominees. This selection marks a critical step in determining the direction of U.S. monetary policy for the coming decade, though it’s unlikely the chosen individual will begin their tenure immediately after being appointed. [Insert relevant details about the decision and its impact on US monetary policy]. Treasury Department insiders have identified Michelle Bowman (Vice Chair for Supervision) and Christopher Waller (Fed Board Member) as likely frontrunners. The final choice is expected to be influenced by the administration’s preference for leadership from financial industry figures, exemplified by Kevin Hassett (National Economic Council Director), former Fed Governor Kevin Warsh, and BlackRock Chief Investment Officer Rick Rieder. Treasury Secretary Scott Bessent is overseeing the selection process, which will include a second round of interviews with key personnel like himself, two senior Treasury aides, and two White House officials. The timeline may shift as Bessent attends upcoming international meetings and travels with President Trump to Asia. After interviewing conclude, Bessent will present his recommendation to the President who ultimately chooses the final nominee. Sources indicate that this choice might begin as a Fed governor appointment before assuming the chairmanship, which serves as a procedural step aimed at securing confirmation by the Senate.