A growing chorus of advisers inside and outside the Trump administration are pushing another name to serve as the next chair of the Federal Reserve: Treasury secretary Scott Bessent.US President Donald Trump said Friday he would name a successor “very soon” to replace Jerome Powell, whose term as Fed chair ends in May 2026. The small list of candidates under consideration has included Kevin Warsh, a former Fed official whom Trump interviewed for the Treasury secretary role in Nov, according to people familiar with the matter.But Bessent – who is leading Trump’s effort to kickstart the US economy with sweeping changes to trade, taxes and regulation – is also now one of the contenders for the job, said the people, who requested anonymity to discuss private conversations. Formal interviews for the position have not begun, two of the people said.“I have the best job in Washington,” Bessent said in response to a request for comment. “The President will decide who’s best for the economy and the American people.” A senior administration official, who spoke on the condition of anonymity, disputed the reporting without providing further specifics.
