Who Are the Potential Contenders to Become the Next CFTC Chair?

As Rostin Behnam’s tenure as Chairman of the Commodity Futures Trading Commission (CFTC) nears its end, speculation has begun about who will succeed him in this important position. The CFTC plays a vital role in regulating derivatives and commodity markets in the United States, making the selection of the new chair a crucial matter for the entire financial industry.

A number of names are being circulated as possible contenders. One leading candidate is Kristin Johnson, a current commissioner at the CFTC. Johnson has extensive experience with the commission, having served in various roles prior to her appointment as commissioner. She is viewed as a moderate choice who enjoys support from both parties.

Another potential candidate is Jared Bernstein, a member of President Biden’s Council of Economic Advisers. Bernstein has a strong background in economics and fiscal policy, and could bring a fresh perspective to the commission. However, he may face some opposition from Republicans due to his affiliation with the Biden administration.

In addition to Johnson and Bernstein, a number of other names are being mentioned, including former CFTC officials and experts in the financial industry. The new chair will be selected by President Biden and must be confirmed by the Senate. The nomination and confirmation process is expected to be complex and potentially contentious.

Regardless of who is chosen, the new CFTC chair will face a number of significant challenges. These challenges include regulating cryptocurrency markets, modernizing derivatives regulations, and ensuring the safety and stability of the financial markets. The new chair will have a significant impact on the future of the financial industry in the United States.