Powell's successor enters the final review list, Trump says a decision will be made by the end of the year
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U.S. Treasury Secretary Becerra confirmed that five candidates have made it to the final list for the Federal Reserve Chair, with President Trump expected to make a decision by the end of the year. The candidates include current Fed Governor Christopher Waller, among others. The market widely expects the Federal Reserve to cut rates by another 25 basis points at the meeting on October 29. Trump hopes for a one-time rate cut of 300 basis points, and the new chair will need to balance political pressure with market confidence. Powell's term will expire in May next year, but he has not yet indicated whether he will step down
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