In a surprise political twist, Donald Trump just removed Treasury Secretary Scott Bessent from his list of possible picks to replace Jerome Powell as head of the Federal Reserve.
๐ฃ๏ธ Why?
Bessent reportedly told Trump, โIโm good where I am,โ during a private talk โ confirming he wants to stay at the Treasury, according to CNBC.
๐ So Whoโs Still in the Race?
Trumpโs new shortlist now includes:
๐น Kevin Warsh โ Former Fed official
๐น Kevin Hassett โ Ex-White House economist
๐น Two mystery candidates not revealed yet ๐
๐งฉ Whatโs the Bigger Picture?
Trump has long criticized Powell โ even calling him a โnumbskullโ over slow rate cuts. Now, with Fed rates on pause and Governor Kugler stepping down, Trump may try to โtest-driveโ a new Fed Chair before Powellโs term ends in 2026.
Meanwhile, Bessent isnโt backing off โ heโs leading U.S.-China trade talks, just as big tariffs are set to kick in on August 12.
โ๏ธ The Fed Game Is Heating Up
Between Fed drama, trade tensions, and 2024 elections, the U.S. economic chessboard is shifting fast.
๐ Powell out?
๐ Trump in control?
Stay tuned โ high-stakes moves are coming.
๐ฌ $TRUMP
๐ Price: $8.87 | +1.25%
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