Secretary Scott Bessent offered new details on the process of selecting the next Federal Reserve Chair, emphasizing the administration’s focus on expertise and leadership.

“We will present three or four candidates to President Trump… the new Chair will be someone who is an expert on monetary policy, regulatory policy, and knows how to run a sprawling institution, which the Fed is,” Bessent said.

The comments suggest the administration is prioritizing both technical knowledge and management skills in choosing the central bank’s next leader. The decision will be closely watched by markets, given the Fed’s central role in setting interest rates, overseeing financial regulation, and managing economic stability.

Speculation has already begun over potential candidates, as investors and policymakers await a signal on the future direction of U.S. monetary policy under Trump’s second term.