Donald Trump Considers 11 Candidates to Replace Fed Chairman Powell

The Trump administration is evaluating 11 potential candidates to succeed Federal Reserve Chairman Jerome Powell, including previously undisclosed names such as David Zervos and Rick Rieder, before Powell's term ends in May 2025. This decision could significantly affect interest rates in the United States, creating a spillover effect on global financial and cryptocurrency markets, potentially impacting asset prices and investor sentiment. Trump Casts a Wider Net to Replace Fed Chair President Trump expressed dissatisfaction with Jerome Powell's tenure, calling his decisions slow and incompetent. Among the 11 candidates, previously undisclosed names such as David Zervos, Larry Lindsey, and Rick Rieder have emerged, indicating that the administration is urgently searching for the next Chairman of the Federal Reserve. "We are currently reviewing a large list," David Zervos stated, emphasizing the exploratory phase of the administration. This list also includes notable figures such as Fed Vice Chair Philip Jefferson and Michelle Bowman, as well as Fed Dallas President Lorie Logan. Trump's search for a new Federal Reserve Chair (Fed) comes against a backdrop of significant economic challenges. This selection could imply a shift in monetary policy outlook, impacting U.S. Treasury yields and market risk sentiment, with potential spillover effects on various other financial markets, including cryptocurrencies. Past transitions have often led to increased market volatility. Market participants are closely monitoring the situation, predicting how changes in Fed policy could affect cryptocurrency assets like Bitcoin and Ethereum. So far, there have been no direct capital changes or announcements from official sources. However, the cryptocurrency market is very sensitive to any signals regarding the Fed's dovish or hawkish stance. The Financial Impact of the Potential Leadership Change of the Fed Did you know? Previous leadership transitions at the Federal Reserve often led to significant volatility in both traditional and cryptocurrency markets, illustrating the substantial impact of potential policy changes. As of August 15, 2025, Bitcoin (BTC) is trading at $118,329.84 with a market capitalization of $2.36 trillion, according to CoinMarketCap. In the last 24 hours, Bitcoin has decreased by 4.54%, but has still seen a slight increase of 0.98% over the past 7 days. The 24-hour trading volume of this cryptocurrency is $102.75 billion. The research group believes that replacing the Chairman of the Federal Reserve could lead to different financial outcomes depending on the policies chosen by the newly appointed individual. These potential changes have implications for regulatory trends and technology in the broader financial context. The experience of candidate Rick Rieder, from BlackRock, could provide valuable insights into the dynamics of the global bond market if he takes on this role.