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John Power

Trump says four candidates in running for Fed chair, rules out Bessent

Donald Trump US Federal Reserve Jerome Powell Scott Bessent United States

US President Donald Trump speaks with reporters before boarding Air Force One at Lehigh Valley airport in Allentown, Pennsylvania on August 3, 2025 [Julia Demaree Nikhinson/AP]

United States President Donald Trump has ruled out Secretary of the Treasury Scott Bessent as his pick to replace Federal Reserve Chair Jerome Powell.

Trump, who has repeatedly criticised Powell for not moving faster to lower interest rates, said on Tuesday that Bessent wished to continue in his current role.

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