US Treasury Secretary Scott Bessent on Tuesday said that interviews for Federal Reserve Chair Jerome Powell’s replacement are expected to start around September 1, with 11 candidates under consideration.President Donald Trump’s choice of the next Fed chief is being closely tracked, especially after his repeated criticism of the central bank for holding back on interest rate cuts this year. Powell’s term ends in May 2026, AP reported.Speaking to CNBC, Bessent said, “I’m going to be meeting with them, probably right before, right after Labor Day, and to start bringing down the list to present to President Trump.” He described the pool as “an incredible group” of candidates from within the Fed, former Fed members, and private sector professionals.While he did not specify the names, media reports have listed Fed governors Michelle Bowman and Christopher Waller, former Fed governor Kevin Warsh, and National Economic Council director Kevin Hassett as being in the running. Also mentioned are former regional Fed president James Bullard and Marc Sumerlin, a former economic adviser to President George W Bush.Bessent himself was previously seen as a contender but was ruled out earlier this month after Trump said he would remain Treasury chief.Trump has made no secret of his disdain for Powell, calling him a “numbskull” and “moron” in recent months. Fed policymakers, meanwhile, have been cautious with rate cuts as they assess the impact of Trump’s tariffs on global trade.Markets are also awaiting Powell’s address on Friday at the annual Jackson Hole gathering of central bankers, which could provide signals on whether further rate cuts are likely at the Fed’s mid-September policy meeting.