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The date of starting negotiations for the Fed President has been announced

August 20, 2025

in Business

The US Department of Finance has launched the process of identifying the name of Jerome Powell, President of the US Federal Reserve (Fed), which will end in May 2026. Powell's term ends in May 2026. Starting negotiations this fall, reviews of candidates and the approval process will give a lot of time.

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Finance Minister Scott Bessent stated that they would start negotiating on working day with 11 candidates to replace Powell and the final list would be presented to President Trump. Bessent also stated that the list of candidates was established and the President and the White House were evaluated by the White House Secretariat and officially declared expected to be given until the end of the year.

In addition to the current members of Fed, Chris Waller, Kevin Warsh, Kevin Hassett and Finance Minister Scott Bessent are also mentioned among candidates. Despite the expectations of early assignment from the government, the White House officials attract attention to the importance of preserving the independence of the Fed.

It is indicated for 4 years. The US president performed the appointment, but it was necessary to have the Senate's approval to start the task.

The working day was identified by delegates in the US in 1894 was the first Monday of September to calm down the workers after sending the army to suppress the Pullman workers in Chicago.

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