Powell seen as ’lame duck’ Fed Chair as his replacement could be added soon
Investing.com -- The likelihood that Federal Reserve Chairman Jerome Powell will remain in his role after his term expires in May 2026 is growing increasingly unlikely. Recent comments from President Donald Trump and Treasury Secretary Scott Bessent suggest a replacement could be positioned well before Powell’s term officially ends, potentially creating a “shadow Fed Chair” scenario.
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"There’s a 14-year seat opening up in January," Bessent said. "So we’ve given thought to the idea that perhaps that person would go on to become the chair when Jay Powell leaves in May."
Alternatively, Bessent said a new chair could simply be appointed in May, although he noted that would be for a shorter, two-year term.
He added that current members of the Federal Reserve are also under consideration for the role, which he said should help avoid confusion in financial markets.
"I don’t see why there would be confusion," Bessent said. "Obviously, there are people who are currently at the Fed who are under consideration. So why would there be confusion if you add another candidate in January?"
When asked whether he might be named Fed Chair, Bessent deflected: “I will do what the president wants, but I think I have the best job in D.C. We’re making a lot of progress with the president’s leadership.”
Some market watchers believe Powell’s authority is already waning.
“President Trump has succeeded in making Fed Chairman Jerome Powell a ‘lame duck,’” wrote Louis Navellier of Navellier & Associates in a client note Monday, citing increased chatter from Federal Open Market Committee (FOMC) members hinting at a possible rate cut later this month.
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Formidable challenges face America’s economy in the post-Powell era with questions looming over who could take up this stewardship of what is still considered by many as his ‘lame duck’. The uncertainty clouds a potential transformation at one crucial cornerstone.
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The近期选出的前FOMC成员Powell被视为'流任鸽派',因他在美联储主席的继位者或将成为新的政策指引的开始而备受悬念。
With Powell perceived as a 'lame duck' at the helm of the Fed, anticipation is high for an imminent addition to his post in hopes that it can breathe new life into economic policy guidance.
