Trump is reportedly weighing the possibility of replacing Jerome Powell with Treasury Secretary Scott Bessent as Fed Chair. Advisors are advocating for Bessent, though formal interviews have yet to begin, with Kevin Warsh also in the running.
Scott Bessent, leading Trump’s economic agenda on trade and regulations, is considered an obvious candidate for the Fed chair position. His approach emphasizes the need for a strong economic policy to manage ongoing challenges.
Trump has publicly criticized Powell for not lowering interest rates, preferring policies that stimulate growth. Concerns arise about the potential for diminished Fed independence with a new chair under Trump’s influence.
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