According to online reports, a strategist at Pimco, the world's largest bond management company, said Trump is likely to follow traditional practices when selecting the next Federal Reserve chairman. Andrew Balls, chief investment officer for global fixed income at Pimco, said the rumored candidates "all seem to be very suitable candidates." Although Powell's term does not end until May next year, Trump has said he has multiple candidates in mind. Popular candidates include Kevin Warsh, Kevin Hasset, and current Federal Reserve Governor Christopher Waller, who was officially nominated by Trump in 2020. Treasury Secretary Scott Bessant is also under consideration.