US Treasury Secretary Scott Bessent emerges as possible contender to succeed Fed's Powell

U.S. Treasury Secretary Scott Bessent has emerged as a possible candidate to succeed Federal Reserve Chair Jerome Powell, Bloomberg News reported on Tuesday, citing people familiar with the matter.

Bessent joins a small list of Fed chair candidates that has included Kevin Warsh, a former Fed official whom Trump previously interviewed for Treasury secretary, Bloomberg added.

The White House did not immediately respond to a request for comment.


Trump said on Friday he would name a successor to Powell very soon. Bloomberg, citing two unidentified people familiar with the matter, reported that formal interviews for the job have not begun.

Bessent is leading Trump's sweeping global trade overhaul and has a hand in pushing for changes to taxes and regulation.