Trump Has 4 Candidates to Replace Powell – Scott Bessent Isn't One Of Them

President Donald Trump reportedly indicated on Tuesday that he has four people shortlisted to replace Federal Reserve Chair Jerome Powell, and U.S. Treasury Secretary Scott Bessent isn’t one of them.

“It will be one of four people. They’re going to make the decision soon,” President Trump said in an interview with CNBC. “I love Scott. But, he wants to stay where he is,” he explained, stating that Bessent declined consideration for Fed Chair, which is why he said he's taking him off the list of candidates.

“He actually said, I want to work with you,” Trump said. “He does not want it. He likes being the Treasury Secretary. He’s doing a really good job.” According to him, Bessent has been instrumental in securing key trade deals.

Trump and numerous members of his administration have not hidden their ire against the central bank and Powell for not bringing interest rates lower. During the interview, Trump said ‘Too Late’ Powell was “highly political” and could be replaced by “numerous people that are qualified.”

He also expressed his appreciation for the “two Kevins” – economic advisor Kevin Hasset and former Fed governor Kevin Warsh – as well as Christopher Waller, who are also on the shortlist to potentially become the next Federal Reserve Chair. 

U.S equity markets were mixed in pre-market trade on Tuesday. The SPDR S&P 500 ETF (SPY) edged 0.13% higher while the SPDR Dow Jones Industrial Average ETF (DIA) moved 0.05% lower. The Invesco QQQ Series 1 Trust (QQQ) rose 0.29%. 

On Stocktwits, retail sentiment around SPY moved marginally higher but remained within ‘neutral’ territory over the past day. Meanwhile, retail sentiment around DIA remained in the ‘extremely bullish’ zone. 

Read also: Bitcoin Struggles To Hold $115,000 – Solana, Ethereum, Dogecoin Show Strength

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