Bessent: Trump may decide on next Fed chair as soon as next week

JH Kim

Summary

U.S. Treasury Secretary Scott Bessent said President Donald Trump could decide on the selection of the Fed chair as soon as next week.
While Bessent did not cite specific candidates or when a decision would be made, he said discussions over the Fed leadership and the direction of monetary policy are accelerating.
Trump has sharply criticized the Fed’s interest-rate policy and has previously said he “already has a decision in mind” regarding the selection of the next Fed chair.

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According to Walter Bloomberg, a breaking-news economics account, on the 20th (local time), speculation has emerged that U.S. President Donald Trump could decide on the selection of the next Federal Reserve (Fed) chair as early as next week.

U.S. Treasury Secretary Scott Bessent said in an interview with CNBC, “President Trump may reach a conclusion on the decision for the Fed chair as soon as next week.”

While Secretary Bessent did not mention specific candidates or the timing of the decision, his remarks suggested that discussions surrounding the Fed leadership and the direction of monetary policy are gaining pace.

Previously, President Trump had strongly criticized the Fed’s interest-rate policy and, regarding the selection of the next Fed chair, said that he “already has a decision in mind.”