Trump identifies four contenders for Fed chair position and dismisses Bessent as potential option | Financial News

The US President, Donald Trump, has confirmed that Secretary of the Treasury, Scott Bessent, will not be considered for the position of Federal Reserve Chair to replace Jerome Powell. Trump, who has been critical of Powell for not lowering interest rates quickly enough, stated that Bessent expressed his desire to continue in his current role. Trump mentioned that he has four candidates in mind, including Kevin Warsh, a former member of the Fed’s board of governors, and Kevin Hassett, who leads the White House National Economic Council. The President also suggested the possibility of appointing his preferred candidate for the Fed chair position early, following the resignation of one of the seven governors, Adriana D Kugler. However, concerns remain about maintaining the independence of the central bank, which investors view as essential for the US economy.

Source: https://www.aljazeera.com/news/2025/8/6/trump-says-four-candidates-in-running-for-fed-chair-rules-out-bessent?traffic_source=rss