Scott Bessent in the Running for Federal Reserve Chair

Scott Bessent, the current U.S. Treasury Secretary, has emerged as a potential candidate to succeed Jerome Powell as the Federal Reserve Chair. This development was reported by Bloomberg News, which cited sources familiar with the situation.

Bessent is part of a shortlist that includes Kevin Warsh, a former Federal Reserve official who was previously considered by Trump for the role of Treasury Secretary. Notably, the White House has not yet commented on these speculations.

President Trump announced his intent to name Powell's successor soon, although formal interviews for the position have not begun. Bessent is currently influential in overseeing Trump's global trade overhaul and is pushing for significant changes in taxes and regulations.

(With inputs from agencies.)