U.S. Treasury Secretary Scott Bessent said the White House will begin interviewing candidates this autumn to succeed Federal Reserve Chair Jerome Powell, whose term ends in May 2026. The timeline would give the Trump administration around six months to prepare for the transition.
Speaking in an interview with Bloomberg TV
- said there’s room for more debate on the Fed’s regulatory role
- described the Fed’s monetary policy mandate as a “jewel box” that must be preserved
- Despite weekly breakfast meetings with Powell, Bessent said they had not discussed any specific financial stability contingency plans, and he saw no signs of concern during his most recent visit to the Fed. “It seems like business as usual”
This article was written by Eamonn Sheridan at www.forexlive.com.
