Trump will announce Fed appointments soon; Bessent wants to stay at Treasury

U.S. President Donald Trump on Tuesday said he would announce decisions soon on a short-term replacement for Federal Reserve Governor Adriana Kugler, who announced her resignation on Friday, as well as his pick for the next Fed chair.

Trump said the White House was looking at four candidates to replace current chair Jerome Powell, whose term as chair ends in May 2026, but Treasury Secretary Scott Bessent was not one of them since Bessent wanted to remain in his current job.

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