[Trump Plans to Announce Successor to Federal Reserve Chair Powell by Year-End, Five Candidates Finalized] U.S. President Trump stated that he might announce the nomination for Federal Reserve Chair Powell's successor by the end of this year. Powell's current term is set to end in May 2026, and the list of successor candidates has now been narrowed down to five. Treasury Secretary Besent plans to conduct a second round of interviews with these candidates in November and submit a streamlined nomination list to the president for the final decision. The five candidates include current Federal Reserve Governor Christopher Waller and Vice Chair for Supervision of Banking Michelle Bowman. Additionally, White House National Economic Council Director Kevin Hassett and former Federal Reserve Governor Kevin Warsh are considered frontrunners. The fifth candidate is Rick Rieder, a senior executive at BlackRock who oversees the company's massive bond portfolio.