Treasury Secretary Begins Search for New Fed Chair

U.S. Treasury Secretary Scott Bessent has announced his intention to meet with 11 potential candidates to replace Federal Reserve Chair Jerome Powell. The meetings are set to occur around the Labor Day holiday, which falls on September 1.

In a recent interview with CNBC, Bessent described the group of candidates as 'an incredible group' and expressed enthusiasm about meeting each of them with an open mind.

'I'm going to be meeting with them, probably right before, right after Labor Day, and to start bringing down the list to present to President Trump,' Bessent stated. His goal is to reduce the list of candidates to present to President Donald Trump.

(With inputs from agencies.)