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U.S. Treasury Secretary Scott Bessent said on Tuesday that President Donald Trump may choose the next Fed chair next week. He spoke on #CNBC , noting months of vetting since September and direct meetings with finalists. The decision follows Trump’s dissatisfaction with the rate policy and comes as Jerome Powell’s term ends May 15.
Fed Chair Could Be Announced as Early as Next Week
According to Bessent, the selection process has narrowed from eleven candidates to four finalists. He said Trump has already met each contender and discussed the role in detail. Notably, Bessent suggested the timing reflects completion of internal reviews rather than market pressure.
He added that the #administration has prioritized continuity in monetary operations during the change. However, he declined to name a frontrunner or confirm a final timeline. With Powell’s term ending mid-May, the window for a decision has tightened.
The potential Fed chair announcement could come amid the January #FOMC meeting, which will be held between January 27 and 28. As CoinGape reported, the Fed is likely to hold rates steady after cutting rates three times last year.
The finalists include Trump adviser Kevin Hassett, Fed Governor Christopher Waller, former Fed Governor Kevin Warsh, and BlackRock bond chief Rick Rieder. As per Polymarket odds, Kevin Warsh leads with 61 percent, followed by Rick Rieder at 20 percent. Christopher Waller holds 11 percent, while Kevin Hassett trails at 5 percent.

Source: Polymarket
The odds are market expectations rather than official guidance. However, they show growing confidence in candidates with prior Fed or institutional investment experience. Bessent emphasized that Trump personally interviewed all four candidates before narrowing the field.
Hassett, Powell, and Recent Political Friction
Hassett recently said Trump has not made a decision and suggested he would remain in the West Wing. Trump publicly told Hassett he wanted him to stay, which reduced expectations of a Fed chair move. Previously, observers viewed Hassett as a strong contender.
Meanwhile, Trump has criticized #Powell for not cutting rates faster. The Justice Department has opened a criminal investigation into Powell’s Senate testimony, with grand jury subpoenas sent to the Fed. Powell said the inquiry appears politically motivated.
Bessent also criticized Powell’s plan to attend a Supreme Court hearing on Wednesday. The case concerns Trump’s attempt to remove Fed Governor Lisa Cook. Bessent said Fed independence matters, though he called Powell’s attendance a mistake.
As the decision nears, Trump faces a compressed timeline. Bessent’s comments outlined a nearly finished process with four names remaining. With Powell’s term ending soon, attention is now on the president’s next move.

#Ethereum price is on track for a weekly gain despite the ongoing challenges in the crypto industry after the CLARITY Act markup stalled. $ETH was trading at $3,280 on Friday, up modestly from the year-to-date low of $2,623. The coin has formed a bullish chart pattern as billionaire Mike Novogratz hinted that the bill will be passed in the next two weeks.
Mike Novogratz Believes CLARITY Act Will Be Passed Soon
The main catalyst for the Ethereum price this week was the new developments on the #CLARITY Act or the Market Structure Bill. This bill, which was expected to have a markup at the Senate on Thursday, was paused after facing opposition from Coinbase.
In a statement on Thursday, Mike Novogratz, the billionaire founder of Galaxy Digital, remained optimistic that the Senate would ultimately pass it soon. He noted that he had talked to over 10 senators on both sides of the isle, who are working in good faith to address the issues.
Mike Novogratz on CLARITY
Novogratz reiterated this view in a #CNBC interview on Friday, when he was talking about Galaxy’s expansion of its Helios data center project. He predicted that the delay was a negotiation tactic as different entities seek to get the best deal. As such, he sees the bill being passed in the next two weeks  
Other top officials have expressed optimism that the bill will be passed soon. Robinhood has supported the bill because it will make it possible for it to offer staking solutions to its customers. Additionally, #Ripple Labs’ Brad Garlinghouse said that the bill was better than none.
The Ethereum price is likely to do well if the bill passes, as it is the second-largest cryptocurrency in the world and its blockchain powers key industries, such as decentralized finance and real-world asset tokenization.
Meanwhile, Ethereum’s network activity is doing well, with the number of transactions and active users being in a strong uptrend..Additionally, the amount of ETH tokens being staked has jumped to a record high, helped by the ongoing staking by BitMine.
Ethereum Price Technical Analysis Points to a Surge 
The weekly chart shows that ETH price has crawled back in the past few weeks, moving from a low of $2,670 in November to the current $3,280.
Ethereum is attempting to move above the 50-week Exponential Moving Average (EMA), while the Relative Strength Index (RSI) has pointed upwards and is attempting to move above the neutral point at 50.
Additionally, it has formed an inverse head-and-shoulders pattern, which is a common bullish reversal sign.
Ethereum price chart
Therefore, the most likely ETH price forecast is bullish, with the next key target being at $4,000. A jump above that level will point to more gains, potentially to the all-time high of $5,000.
The bullish outlook will be canceled if the token drops below the right shoulder at $2,670.

The cryptocurrency market has gone through a year full of volatility, but the founder of Fundstrat Global Advisors, Tom Lee, one of the most closely watched strategists on Wall Street, remains steadfast in his strong optimistic stance. Appearing on #CNBC , Tom Lee did not hesitate to describe the recent correction as a historic liquidation event, but emphasized that this move has paved the way for a booming growth at the end of the year.