Though the White House has dismisses the report on the US treasury secretary as false
10 June 2025 - 20:57
byJasper Ward, Ismail Shakil and Andrea Shalal
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
US treasury secretary Scott Bessent in Washington, DC, the US, May 7 2025. Picture: NATHAN HOWARD/REUTERS
Washington — US 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 — a report immediately denied by the White House.
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.
A White House official dismissed the Bloomberg report as false.
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.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
Scott Bessent tipped to replace Fed’s Powell
Though the White House has dismisses the report on the US treasury secretary as false
Washington — US 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 — a report immediately denied by the White House.
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.
A White House official dismissed the Bloomberg report as false.
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.
Reuters
Trump urges Fed chair Powell to cut rates in private White House meeting
Fed minutes show increasing caution in May
JAMES HAYWARD: Stagflation could spoil US’s soft landing and market rebound
Trump berates Powell again for not cutting rates
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Most Read
Related Articles
Lutnick says US-China trade talks ‘going well’ on second day
NEWS ANALYSIS: Tariff-wary markets ‘flying blind’
Trump urges Fed chair Powell to cut rates in private White House meeting
Africa-focused US food project on brink amid aid cuts
Fed minutes show increasing caution in May
HILARY JOFFE: Politics delaying Reserve Bank governor lowering inflation target
Reserve Bank cuts repo rate by 25 basis points to 7.25%
JUANITA DU PREEZ: Washington’s drones aren’t the solution to SA crime
JAMES HAYWARD: Stagflation could spoil US’s soft landing and market rebound
Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January.