Treasury Secretary Scott Bessent will not be the next chairman of the Federal Reserve, according to President Trump.
In a CNBC interview this morning, Trump stated Bessent was not interested in the job.
“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?’ ‘Nope I want to stay where I am.’ I just take him off. He does not want it. He likes being Treasury secretary.”
Fed Chairman Jerome Powell’s term expires next May, and the White House has floated the names of several potential candidates to replace him. Along with Bessent, potential candidates include Kevin Hassett, the director of the National Economic Council at the White House, and Kevin Warsh, who previously served on the Federal Reserve Board of Governors.
“I think Kevin and Kevin, both Kevins, are very good, and there are some other people that are very good,” Trump said. “The two Kevins are doing very well, and I have two other people who are doing very well. In the end, there are numerous people who are very qualified.”
Trump did not address potential replacements for Adriana Kugler, who announced on Friday that she was stepping down from the Fed’s board of governors, effective Aug. 8.
