financetom
Economy
financetom
/
Economy
/
Bessent emerges as possible contender to succeed Fed's Powell, Bloomberg reports
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Bessent emerges as possible contender to succeed Fed's Powell, Bloomberg reports
Jun 10, 2025 11:18 AM

(Reuters) -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.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
FOMC Participants Could Have Supported 25 Basis Point Cut at July Meeting, Meeting Minutes Show; September Cut Likely
FOMC Participants Could Have Supported 25 Basis Point Cut at July Meeting, Meeting Minutes Show; September Cut Likely
Aug 25, 2024
02:28 PM EDT, 08/21/2024 (MT Newswires) -- There were several Federal Reserve officials who said they could support an immediate rate cut but agreed to hold rates steady to see more data, minutes of the Federal Open Market Committee's July 30-31 meeting released Wednesday showed. At the meeting, the FOMC left its target range for the federal funds rate unchanged...
Fed Rate Cuts Coming? What You Need to Know About Mortgages, Borrowing And Saving
Fed Rate Cuts Coming? What You Need to Know About Mortgages, Borrowing And Saving
Aug 25, 2024
The Federal Reserve is expected reduce its benchmark interest rate from a 23-year high next month, affecting consumer debt, savings, auto loans and mortgages. Experts currently predict three quarter-point reductions in September, November, and December, with the potential for deeper cuts, reported Fortune. Fed Chair Jerome Powell indicated in his keynote speech at the Fed’s annual conference in Jackson Hole...
Paraguay president says economy should grow faster 4% in 2024 despite soy price slump
Paraguay president says economy should grow faster 4% in 2024 despite soy price slump
Aug 25, 2024
ASUNCION (Reuters) - Paraguay's economy is on track to grow a faster-than-expected 4% this year, President Santiago Pena told Reuters on Wednesday, a bullish forecast above official estimates that comes despite depressed prices for its top export, soy. Pena, 45, said growth would beat the current central bank estimate of 3.8%, already one of the region's highest. We are confident...
US 30-year fixed-rate mortgage slips to lowest level since May 2023
US 30-year fixed-rate mortgage slips to lowest level since May 2023
Aug 25, 2024
NEW YORK (Reuters) - The average rate on the popular U.S. 30-year fixed-rate mortgage ticked down this week to the lowest level since May 2023, but may need to fall further for the housing market to see significant improvement in demand. The 30-year fixed-rate mortgage averaged 6.46% during the week ending Aug. 22, down from 6.49% in the prior week,...
Copyright 2023-2026 - www.financetom.com All Rights Reserved