Overview

• Treasury Secretary Scott Bessent said he will begin talks next week to identify potential successors for the Federal Reserve chair.
• In an interview with Fox Business, Bessent said he intends to present three or four candidates to the president.
• Bessent described the ideal pick as someone versed in monetary and regulatory policy with experience running a large institution.
• President Trump has for months pushed for interest-rate cuts and has repeatedly called for the removal of Chair Jerome Powell.
• It remains unclear whether a president can dismiss a Fed chair, and Powell’s regular term runs through May 2026.