President Donald Trump has narrowed the list of candidates to replace Federal Reserve Chair Jerome Powell to four individuals, excluding Treasury Secretary Scott Bessent, who declined consideration for the role. Trump indicated that a decision on the new Fed Chair could be announced soon. Additionally, Trump plans to make a decision by the end of the week on a replacement for outgoing Federal Reserve Governor Adriana Kugler, who is resigning early and will leave the Fed on August 8. Recently, Trump's team has expanded the search for the next Fed Chair, increasing the list to about 10 contenders. New names added include former St. Louis Federal Reserve President James Bullard and Marc Sumerlin, a former economic adviser to President George W. Bush. Treasury Secretary Bessent has been leading the search process. Trump has also urged Chair Powell to consider government debt service costs in the upcoming Federal Reserve meeting.