Bessent's Surprise Candidacy: White House Denies Fed Chair Gossip

Scott Bessent has been reported as a potential successor to Federal Reserve Chair Jerome Powell, despite a White House denial. His name was added to a shortlist with Kevin Warsh, though formal interviews have yet to start. Bessent is involved in global trade changes under Trump.

In a surprising development, U.S. Treasury Secretary Scott Bessent has been rumored to be in the running to replace Jerome Powell as Federal Reserve Chair. This information, disclosed by Bloomberg News, was quickly refuted by the White House.

The list of potential Fed chair candidates also notes Kevin Warsh, a former Federal Reserve official. Warsh had previously been vetted by Trump for Treasury Secretary, but a White House official dismissed the report regarding Bessent's candidacy as false.

President Trump announced on Friday that a successor to Powell would be named soon. However, Bloomberg claims that no formal interviews have been conducted yet. Bessent is significantly contributing to Trump's international trade overhaul and advocating for tax and regulatory reforms.

(With inputs from agencies.)