Trump Poised to Name Fed Chair Successor This Month After Davos

Treasury Secretary Scott Bessent signaled on Thursday that President Donald Trump is expected to make a decision on the next Federal Reserve Chair later this month, a move that could shape U.S. monetary policy for years to come.


Trump is scheduled to attend the World Economic Forum in Davos, Switzerland, from January 19 to 23. Speaking at the Economic Club of Minnesota, Bessent said the timing of the Fed announcement could come “right before or right after” the Davos forum, indicating that a decision is likely within January.


The choice of Federal Reserve Chair carries significant implications for interest rates, inflation control, and market stability. Jerome Powell, whose current term is ending, has overseen a period of economic turbulence, including volatile markets and evolving monetary policy in response to inflationary pressures. Analysts expect Trump’s decision to reflect his priorities on economic growth, employment, and the broader U.S. financial outlook.


Markets are already watching closely. Investors are anticipating any signals from the White House about the incoming Fed leadership, as the decision could influence everything from Treasury yields to stock market performance.

With the global economy still navigating uncertainties—including inflation trends, banking sector stress, and international trade dynamics—Trump’s Fed appointment will be one of the first major economic policy moves of the new year.