Benson: Trump may appoint the new Federal Reserve chairman as early as next week.

US Treasury Secretary Besant said that as the White House searches for a new Federal Reserve chairman, there is a high level of interest in President Trump possibly announcing his choice for the next Fed chairperson as early as next week. Besant said at a press conference in Davos on Tuesday, "We have four excellent candidates - this will be decided by the president. I imagine he may make an announcement as early as next week." He is currently attending the World Economic Forum there. After a long search led by Besant, the process to pick a successor to current chair Powell is seen as a four-way race. The final competitors include: Rick Rieder, Chief Investment Officer of BlackRock Global Fixed Income; Kevin Hassett, chair of the National Economic Council; Federal Reserve Governor Christopher Waller; and former Fed governor Kevin Warsh. However, the dynamics of this competition seem to have changed in recent weeks. Hassett was once considered the frontrunner, but Trump showed hesitation in nominating him last week, fearing that it would result in the government losing one of its strongest voices in the economic field. "To be honest, I really want you to stay in your current position," Trump told Hassett at an event at the White House. However, it is unclear whether these remarks indicate a shift in internal discussions or if they are just offhand comments from the president. Furthermore, uncertainty has been added to the process with the decision to issue subpoenas in an investigation into the Fed's handling of a renovation project, as well as Powell's comments to Congress about the project. This move has sparked strong opposition in Washington, including from Senate Banking Committee member and Republican Senator Tom Tillis, who threatened to oppose any Fed nominations until the case is resolved. According to sources, BlackRock's Rieder has gained momentum. Sources say that Rieder is considered to be more likely to be confirmed in the nomination process.