Pro-crypto figures such as Federal Reserve Vice Chair Bowman may lead the Federal Reserve

Foresight News: According to The Block, Federal Reserve Vice Chair Michelle Bowman and other pro-crypto candidates are expected to lead the Federal Reserve Board.

Michelle Bowman, the crypto-supporting Vice Chair of the Federal Reserve, is one of five candidates seeking to succeed current Chair Jerome Powell after his departure next year. Treasury Secretary Scott Bessent is also on the candidate list, which includes former Fed Governor Kevin Warsh, National Economic Council Director Kevin Hassett, Fed Governor Chris Waller, and Blackstone Group Chief Investment Officer of Fixed Income Rick Rieder.

Bessent will interview the candidates together with two senior Treasury officials and two senior White House officials, after which a shortlist will be submitted to President Trump. Bowman has stated that the Federal Reserve needs to remain open-minded and adapt to new technologies at this critical moment of financial innovation, and she has suggested that staff hold small amounts of cryptocurrency to better understand how it operates. Other candidates have also expressed positive views on cryptocurrency: Waller mentioned that the Federal Reserve will enter a new era, while Rieder and Hassett have also voiced their support for crypto assets.