Treasury Secretary Scott Bessent said there’s a “very good chance” a new Fed chair will be named by Christmas.

Bessent, who has been heading the search for a successor to current Chair Jerome Powell, said he still has one interview to go.

The Treasury secretary said the shortlist is down to five as Trump continues to pressure Powell over interest rates.

Treasury Secretary Scott Bessent said there’s a “very good chance” a new Fed chair will be named by Christmas.