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Who will be Donald Trump’s next Federal Reserve chair — and what will they do?

Treasury secretary Scott Bessent has a shortlist of five candidates vying to replace Jay Powell

After the Federal Reserve scrapped some of its climate rules earlier this month, governor Christopher Waller’s response was short and swift.

“Good riddance,” the top internal candidate to replace Jay Powell said in a two-word statement.

It was the sort of ruthlessness US Treasury secretary Scott Bessent, who is leading the hunt to find Powell’s successor, wants to see from the next Fed chair.

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