President Donald Trump announced Tuesday that Treasury Secretary Scott Bessent will no longer be considered for the role of Federal Reserve chair, clarifying a key point of intrigue as the White House narrows the search for a successor to Jerome Powell. Trump’s decision, revealed during a CNBC interview, comes after weeks of speculation about Bessent’s possible appointment and spotlights the shifting dynamics in the Trump administration’s approach to the nation’s central bank.
“Well, I love Scott, but he wants to stay where he is,” Trump said. “I asked him just last night, ‘Is this something you want?’ He replied, ‘Nope, I want to stay where I am.’ Trump said he was taking Bessent off the list of potential Powell successors.
