Trump Abruptly Dismisses Scott Bessent as Potential Fed Chair Contender

President TRUMP delivered a swift rejection to Scott Bessent's apparent candidacy for Federal Reserve chair, mere moments after the Treasury Secretary appeared to confirm his participation in the selection process. The public rebuke came during a press interaction where Trump stated Bessent wasn't at the top of his list, praising his current performance instead.

The dramatic reversal followed Bessent's Bloomberg TV interview where he positioned himself as a reform candidate, advocating for Jerome Powell's complete departure when his term expires in 2026. Bessent argued that maintaining Powell as a governor WOULD create market confusion, emphasizing the need for clean leadership transitions at the central bank.

Market observers note the unusual public nature of these Fed succession discussions, which typically occur behind closed doors. The episode highlights the ongoing tension between the administration and the central bank, with potential implications for monetary policy continuity.