Trump praises Rick Rieder as potential successor to Powell

White House economic adviser Kevin Hassett

US President Donald Trump indicated he is close to selecting a new Federal Reserve chair, adding that he is inclined to keep White House economic adviser Kevin Hassett in his current role.

Speaking to CNBC on the sidelines of the Davos forum about who might succeed Jerome Powell, Trump said, “I’d say we’re down to three, but we’re down to two. And I probably can tell you, we’re down to maybe one, in my mind.” He did not name the frontrunner.

Trump described all three remaining candidates as highly qualified, highlighting Rick Rieder, BlackRock’s chief fixed income investment officer, as “impressive” in his interview.

When asked about Treasury Secretary Scott Bessent as a potential candidate, Trump said he is great but prefers to remain in his current position.

Trump added that he wants to appoint a Fed chair in the mold of former chairman Alan Greenspan, who held the role for an extended period.