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Bessent on becoming Fed chair: ‘I will do what the president wants’
- U.S. Treasury Secretary Scott Bessent confirmed on Monday that the Trump administration is searching for a replacement for Federal Reserve Chair Jerome Powell whose term expires in May 2026.
- This search follows rising tensions between Trump and Powell, with Trump pressuring Powell to cut interest rates and reportedly considering Bessent as a successor.
- Bessent emphasized relying on market-based indicators over experts, noting a strong market recovery after a sharp decline and praising major stock indices reaching record highs.
- He stated, "I will do what the President wants" regarding the Fed chair role and highlighted the Treasury's progress on tax bills and trade negotiations amid ongoing economic momentum.
- This transition could impact U.S. monetary policy independence and influence bond yields, inflation expectations, and market stability as the administration weighs options for Powell's replacement.
22 Articles
22 Articles
Bessent values 'market-based indicators' over Powell's influence
Treasury Secretary Scott Bessent downplayed Federal Reserve Chairman Jerome Powell’s economic analysis and claimed Bessent had made his “35-year career listening to the market.” Powell responded to backlash about the Federal Reserve refusing to lower rates Tuesday by laying the blame on President Donald Trump for issuing tariffs against dozens of countries. Bessent is a staunch defender of these tariffs and helped negotiate some with China. “The…
Scott Bessent Takes Major Victory Lap Over "Experts" as Markets Soar to All-Time Highs
WASHINGTON D.C (VINnews)President Trump’s Secretary of the Treasury Scott Bessent blasted the financial establishment for ignoring market signals and getting it dead wrong following “Liberation Day” — the turning point many credit with the recent economic resurgence. Join our WhatsApp group Subscribe to our Daily Roundup Email “I will take the market-based indicators over the […]
Scott Bessent On Replacing Powell As Fed Chair: 'I Will Do What The President Wants' — Plays Down Shadow Chair Speculations
U.S. Treasury Secretary Scott Bessent declined to rule out the possibility of replacing Jerome Powell as Federal Reserve Chair and has instead deferred to President Donald Trump's decision on the matter.
Scott Bessent Open to Replacing Powell as Fed Chairman - The Pennsylvania Daily Star
Treasury Secretary Scott Bessent on Monday suggested he would be open to replacing Federal Reserve Chairman Jerome Powell as President Donald Trump renews his criticism of the central banker. The post Scott Bessent Open to Replacing Powell as Fed Chairman appeared first on The Pennsylvania Daily Star.
Scott Bessent Open to Replacing Powell as Fed Chairman | The Star News Network
by Ben Whedon Treasury Secretary Scott Bessent on Monday suggested he would be open to replacing Federal Reserve Chairman Jerome Powell as President Donald Trump renews his criticism of the central banker. “I will do what the President wants,” he told Bloomberg News. A relative unknown before assuming his current role, Bessent has emerged as a heavyweight in the Trump Cabinet, helping to steer the American economy through the fluctuations over…
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