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In a dramatic twist, Donald Trump has removed Treasury Secretary Scott Bessent from his list of potential replacements for Fed Chair Jerome Powell — revealing that Bessent declined the job.
🗣️ “Scott’s great — but he’s happy where he is,” Trump told CNBC. “I asked him last night, and he said, ‘Nope, not for me.’ So he’s off the list.”
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🔄 Who’s Still in the Running?
Trump’s revised shortlist now includes:
🧠 Kevin Warsh – Former Fed Governor
📊 Kevin Hassett – Former White House Economist
❓ Two unnamed candidates still under review
This move comes as Trump continues his war of words with Powell, whom he’s slammed for being too slow on rate cuts — calling him a “numbskull” and even a “complete moron.”
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📉 Fed in Crisis Mode
The Federal Reserve recently held interest rates steady, citing global uncertainty and trade pressure. But behind the scenes:
👎 Fed Governor Christopher Waller & Vice Chair Michelle Bowman pushed for a rate cut
😮 Governor Adriana Kugler just resigned, leaving a critical seat open
Trump aims to fill the vacant seat within days — likely as a 4-month interim test run for a future long-term chair when Powell's term ends in 2026.
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🌍 Bessent Still in the Spotlight
Although Bessent is out of the Fed chair race, he remains deeply involved on the trade front — leading high-stakes U.S.–China talks currently happening in Sweden.
🗓️ All eyes are on August 12, when Trump is expected to announce whether current tariffs will be extended or renegotiated.
Meanwhile, Kevin Hassett confirmed Bessent is still helping vet other Fed chair candidates behind the scenes.
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⚡ TL;DR:
✅ Scott Bessent removes himself from Fed chair race
📊 Trump eyes pro-rate-cut candidates
📉 Fed turmoil escalates with new resignation
🌐 U.S.–China trade talks heating up
⏳ Powell’s future uncertain as Trump reshapes Fed vision
$BTC traders, watch closely: A dovish Fed shift could signal major market momentum ahead.
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