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The current Federal Reserve Chair, Jerome Powell, is set to leave when his term ends in May 2026. President Donald Trump is expected to soon announce his nominee to succeed Powell, with the decision possibly coming as early as next week. Treasury Secretary Scott Bessent says four finalists are being considered, including economists and Fed officials like Kevin Hassett, Christopher Waller, Michelle Bowman and Kevin Warsh. The choice will shape U.S. monetary policy and influence interest rates for years. Markets are watching closely, as the new chair must be confirmed by the Senate before taking charge.
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