Treasury Secretary Scott Bessent is not in the running to replace Jerome Powell as head of the Federal Reserve, President Donald Trump said in a new interview.
Trump, speaking in an interview with CNBC’s “Squawk Box” on Aug. 5, stated that he has narrowed the field of Fed chairs to four individuals.
Bessent had long been considered a frontrunner to succeed Powell when his term expires in May 2026, but the Treasury secretary removed himself from the list.
“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 said, ’Nope, I want to stay where I am.’ He actually said, ‘I want to work with you. It’s such an honor.’ I said, ‘That’s very nice. I appreciate that.’”…
Treasury Secretary Bessent ‘Does Not Want’ to Be Fed Chair, Trump Says
