The U.S. Department of the Treasury has narrowed down the list of candidates for the position of chair of the Federal Reserve (Fed) to five individuals after a series of interviews. Among them is Michelle Bowman, who supports the development of cryptocurrencies and advocates for a loosening of monetary policy.
This is reported by Business • Media
Key candidates for the Fed chair position
The final list, formed by Treasury Secretary Scott Bessen, includes:
- Michelle Bowman — member of the Board of Governors of the Fed and Vice Chair for Supervision;
- Christopher Waller — member of the Board of Governors of the Fed;
- Kevin Hassett — director of the National Economic Council;
- Kevin Warsh — former member of the Board of Governors of the Fed;
- Rick Rieder — CIO of BlackRock Fixed Income.
In the coming weeks, a second round of negotiations will take place, involving, in addition to Bessen, two other representatives from the U.S. Treasury and two representatives from the White House. It is expected that after Thanksgiving, the shortened list will be submitted to President Donald Trump, who will select a candidate for Senate confirmation.
Michelle Bowman’s stance on cryptocurrencies and stablecoins
“Michelle Bowman, who appears on the list, holds a pro-cryptocurrency position. In July 2025, she called for a reduction in interest rates, and prior to that, in 2024, she supported regulation of the stablecoin sector.”
It is worth noting that Bowman publicly advocated for a reduction in the Fed’s key interest rate in 2025 and previously supported initiatives for implementing clear regulation of stablecoins in the U.S. Her position may be pivotal for the future policy of the Federal Reserve regarding digital assets.
The current Fed chair, Jerome Powell, will complete his term in May 2026. Despite criticism from Donald Trump, the president does not have the authority to dismiss the current Fed chair early. Interestingly, Steven Mnuchin was recently appointed to the Board of Governors of the Fed, who was considered a potential successor to Powell, but he is not on the final list of candidates.