menu_open Columnists
We use cookies to provide some features and experiences in QOSHE

More information  .  Close

Bessent for Fed chair?

2 0
01.07.2025
*{box-sizing:border-box}body{margin:0;padding:0}a[x-apple-data-detectors]{color:inherit!important;text-decoration:inherit!important}#MessageViewBody a{color:inherit;text-decoration:none}p{line-height:inherit}.desktop_hide,.desktop_hide table{mso-hide:all;display:none;max-height:0;overflow:hidden}.image_block img div{display:none}sub,sup{font-size:75%;line-height:0}#converted-body .list_block ol,#converted-body .list_block ul,.body [class~=x_list_block] ol,.body [class~=x_list_block] ul,u .body .list_block ol,u .body .list_block ul{padding-left:20px} @media (max-width:620px){.desktop_hide table.icons-outer{display:inline-table!important}.image_block div.fullWidth{max-width:100%!important}.mobile_hide{display:none}.row-content{width:100%!important}.stack .column{width:100%;display:block}.mobile_hide{min-height:0;max-height:0;max-width:0;overflow:hidden;font-size:0}.desktop_hide,.desktop_hide table{display:table!important;max-height:none!important}.reverse{display:table;width:100%}.reverse .column.first{display:table-footer-group!important}.reverse .column.last{display:table-header-group!important}.row-12 td.column.first .border,.row-14 td.column.first .border,.row-8 td.column.first .border{padding:5px 5px 15px 25px}.row-10 td.column.last .border,.row-12 td.column.last .border,.row-14 td.column.last .border,.row-8 td.column.last .border{padding:5px 20px 25px 5px}.row-10 td.column.first .border{padding:5px 5px 15px 25px;border-bottom:15px solid transparent}}
Welcome to The Hill's Business & Economy newsletter

{beacon}

Business & Economy

Business & Economy

The Big Story

Bessent opens door to serving as Fed chair

The Treasury secretary said Monday he would accept President Trump's nomination to replace Fed Chair Jerome Powell, after weeks of speculation.

© Greg Nash

“I will do what the president wants,” he said in a TV interview with Bloomberg News, adding that he was happy with his current position as Treasury secretary.

Multiple names for Powell’s successor have been floated in Washington policy circles.

In addition to Bessent, they include current Fed Governor Christopher Waller, Fed Vice Chair of Supervision Michelle Bowman, White House National Economic Council Director Kevin Hassett and former Fed Governor Kevin Warsh.

Powell’s term as Fed chair ends in May, though his term as a member of the board of governors doesn’t end until 2028.

Tensions between Powell and Trump have been flaring in recent months as Trump has increasingly called for the Fed to cut interest rates, while central bankers, wary of increasing inflation, have kept rates steady.

 

Welcome to The Hill’s Business & Economy newsletter, I'm Sylvan Lane — covering the intersection of Wall Street and Pennsylvania Avenue.

 

Did someone forward you this newsletter? Subscribe here.

Essential Reads

Key business and economic news with implications this week and beyond:

 

Trump shares handwritten note to Powell: ‘You have cost the USA A Fortune’

President Trump on Monday shared a handwritten note to Federal Reserve Chair Jerome Powell urging him to lower interest rates, his latest attempt to push the central bank to do so.


Full Story

 

© The Hill