๐จ *BREAKING*: U.S. Treasury Secretary Scott Bessent has emerged as a potential contender to succeed Federal Reserve Chair Jerome Powell, according to a Bloomberg report. While the White House has denied this claim, Bloomberg cites anonymous sources indicating that Bessent is among a select few being considered for the position. Other names mentioned include former Fed official Kevin Warsh. As of now, formal interviews have not commenced. President Trump recently stated he would soon announce Powellโs successor.
Bessent, a former hedge fund manager and current Treasury Secretary, has been instrumental in leading efforts on global trade reform and advocating for tax and regulatory changes under the Trump administration.
In a previous interview, Bessent revealed that discussions about potential successors for the Federal Reserve Chair position are ongoing, with interviews scheduled to begin in the fall.
The speculation around Bessent's potential candidacy comes amid President Trump's criticisms of Jerome Powell for not lowering interest rates as desired. Despite Powell's term ending in May 2026, these developments suggest a possible shift in the Federal Reserve's leadership in the near future.
*Stay tuned for further updates as more information becomes available.*