President Donald Trump said Aug. 5 he still has four candidates on tap to replace his nemesis Jerome Powell as chair of the Federal Reserve. But this comes after one of the top names under consideration asked to be removed from the short list of nominees the evening of Aug. 4.

Trump said he had four candidates in mind to replace Powell, whose term expires in May, including Kevin Warsh, who formerly served on the Fed’s seven-member board of governors, and Kevin Hassett, the director of the White House National Economic Council.

Donald Trump confirms changes in his shortlist for Federal Reserve leadership, signaling new strategic preferences ahead of Powell’s 2026 term expiration.