Trump Considers 11 Candidates to Replace Fed Chair Powell

The Trump administration is evaluating 11 potential successors for Federal Reserve Chairman Jerome Powell, including previously unreported names like David Zervos and Rick Rieder, ahead of Powell’s May 2025 term expiration.

This decision could influence U.S. interest rates significantly, with ripple effects across global financial and cryptocurrency markets, potentially impacting asset pricing and investor sentiment.

Trump’s Broader Search for Fed Chair Replacement

President Trump has expressed dissatisfaction with Jerome Powell’s tenure, calling his decisions late and incompetent. Among the 11 candidates, previously undisclosed names like David Zervos, Larry Lindsey, and Rick Rieder have emerged, highlighting the administration’s broad search for the next Federal Reserve Chair. “We’re working on the big list right now,” said David Zervos, highlighting the administration’s exploratory phase. This list also includes known figures such as Fed Vice Chairs Philip Jefferson and Michelle Bowman and Dallas Fed President Lorie Logan.

Trump’s search for a new Fed Chair comes amid economic challenges. The selection could imply a shift in monetary policy outlook impacting U.S. Treasury yields and market risk sentiment, with potential ripple effects on various financial markets, including cryptocurrencies. Past transitions have historically led to increased market volatility.

Market participants are closely monitoring the situation, anticipating changes in Fed policies that could influence crypto assets like Bitcoin and Ethereum. As of yet, no direct funding shifts or announcements from primary sources have been made. However, crypto markets are sensitive to any signals of a dovish or hawkish Fed stance.

Financial Implications of Potential Fed Leadership Change

Did you know? Previous transitions in Federal Reserve leadership have historically resulted in notable volatility across both traditional and cryptocurrency markets, illustrating the substantial impact of potential policy shifts.

As of August 15, 2025, Bitcoin (BTC) trades at $118,329.84 with a market cap of $2.36 trillion, according to CoinMarketCap. Over 24 hours, Bitcoin dropped 4.54%, yet saw a modest increase over 7 days by 0.98%. The cryptocurrency’s 24-hour trading volume is $102.75 billion.

Coincu’s research team suggests that the Federal Reserve Chair replacement may result in varying financial outcomes depending on the selected policies of the new appointee. These potential changes hold implications for regulatory and technological trends in the broader financial landscape. The experience of candidate Rick Rieder, from BlackRock, could indicate keen insights into global fixed income dynamics if he assumes the role.