President Trump announced that Treasury Secretary Scott Bessent will not be considered for the Federal Reserve chair, confirming speculation about his candidacy. During an interview, Trump shared that Bessent preferred to continue in his current role. This announcement ends rumors regarding Bessent's possible transition to the Fed as speculation grew due to his vocal defense of Trump's economic policies. Controversy surrounding Jerome Powell's leadership has included Trump’s criticism and threats of removal, although the president indicated Powell will remain until the end of his term in May 2026.
Trump stated, "I love Scott, but he wants to stay where he is." This remark clarifies Bessent's intention to continue his current role rather than pursue the Federal Reserve chair.
There had been mounting speculation regarding Bessent's potential appointment, as he has become a visible defender of Trump's economic policies, particularly in the context of interest rates.
Collection
[
|
...
]