After a series of rigorous interviews, some lasting as long as two hours, Treasury Secretary Scott Bessent has winnowed down the list of candidates for Federal Reserve chair to five from 11, and that person could be nominated to the Fed — though not necessarily as chair — by January.

According to senior Treasury officials, the remaining list of candidates includes two sitting Fed officials — Vice Chair for Supervision Michelle Bowman and Governor Christopher Waller — along with Kevin Hassett, the director of the National Economic Council, former Fed Governor Kevin Warsh and BlackRock Fixed Income CIO Rick Rieder.

The Treasury plans to hold another round of interviews with all five candidates in the coming weeks and months. The interviews will be led by Bessent and include two senior Trea

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