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Scott Bessent Emerges as Contender for Fed Chair
- President Donald Trump announced on June 6, 2025, that he would soon name Jerome Powell's successor as Federal Reserve chair.
- Trump's decision follows Powell's term ending in May 2026 and reflects growing calls for change amid economic uncertainty caused by tariffs.
- Two main candidates are Treasury Secretary Scott Bessent, noted for leading US-China trade deal efforts, and former Fed governor Kevin Warsh, who served from 2006 to 2011.
- Trump praised Warsh as "very highly thought of" and advisers like Tim Adams said both Bessent and Warsh would be trusted to preserve Fed independence.
- The Senate will confirm the next chair, who must maintain the Fed's independence while markets watch for potential political influence from Trump.
48 Articles
48 Articles
Exclusive: Treasury Secretary Bessent Is Not Looking To Succeed Fed’s Powell
As speculation builds over who might eventually succeed Jerome H. Powell as chair of the Federal Reserve, Treasury Secretary Scott Bessent says he is not seeking the role and remains focused on his current post.
Fox Business
The Business TimesTrump eyes Cabinet member to replace 'Mr Too Late' Powell at the Fed: report
Federal Reserve Chair Jerome Powell has faced significant criticism from the Trump administration over the central bank's stance on holding interest rates steady in recent months, and the president is reportedly considering a member of his Cabinet as Powell's successor.Powell has less than a year remaining in his term as Fed chair, which is due to expire in May 2026. President Donald Trump, who nominated Powell to the role in 2017, has signaled …
A growing chorus of advisers inside and outside the Trump administration is pushing for a new name to preside over the Federal Reserve: Treasury Secretary Scott Bessent.On Friday, President Donald Trump said he would appoint “very soon” a successor to replace Jerome Powell, whose term as Fed President concludes in May 2026.Who are the candidates to preside over the Fed?Among the candidates considered is Kevin Warsh, a former Fed official who was…
Trump ramps up pressure on Fed chair as rumors swirl about replacement
President Donald Trump kept up his pressure campaign on Federal Reserve chairman Jerome Powell as rumors swirl about his possible ouster.The president hailed May's Consumer Price Index (CPI) report showing that his tariffs had not increased inflation quite as much as investors had feared, rising only 0.1 percent for the month, putting the annual inflation rate at 2.4 percent."CPI just out," Trump posted on Truth Social in all-capital letters. "G…
Paul Tudor Jones Says Trump Will Pick ‘Uber Dovish’ Fed Chair
Billionaire investor Paul Tudor Jones said President Donald Trump is likely to appoint an “uber dovish” Federal Reserve chair to accommodate his growth agenda, adding he thinks US Treasury Secretary Scott Bessent would be his likely pick when Jerome Powell’s term ends.
LIVE NOW: House Ways and Means Committee Holds Hearing With Treasury Secretary Bessent
The House Ways and Means Committee holds a full committee hearing with Treasury Secretary Scott Bessent at 10 a.m. ET on June 11. Witness: Scott Bessent, secretary of the Treasury ...
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