Trump Reveals Bessent Withdraws from Fed Chair Consideration After Turning Down Position

In a move that reshuffles the Fed leadership deck, Trump confirms Bessent is out of the running for Chair—voluntarily stepping back from the political circus.

No drama, no scandals—just a rare moment of sanity in the high-stakes game of musical chairs at the world's most powerful central bank. Maybe Bessent saw the economic hurricane brewing and decided to let someone else hold the umbrella.

Wall Street shrugs—another day, another rejected Fed nominee. At least this one didn’t require a Senate hearing to figure out they didn’t want the job.

President Donald TRUMP has confirmed that Scott Bessent is no longer being considered for the Federal Reserve Chair role. Bessent declined the opportunity, expressing his wish to remain in his current position. Trump acknowledged and respected Bessent’s decision, and said other candidates are now under review for the job. This update brings clarity to the ongoing search for a new Fed Chair and signals a narrowed field of contenders for one of the top economic posts.