Trump says Treasury Secretary Bessent ‘does not want’ to be Fed chair, but 4 others in running
President Donald Trump told CNBC on Tuesday that he narrowed his future potential federal reserve chairs to four islands, a list that does not include Treasury Secretary Scott Bessent.
Although the president did not explain who he was contented, Bessi, who was previously considered a leading candidate, announced that he had removed himself from the discussion.
“Well, I love Scott, but he wants to stay where he’s,” Trump said during an interview with a “Squawk Box” interview. “I asked him last night,” Is this something you want? ” [Bessent said]’No, I want to stay where I am. Actually, he said, ‘I want to work with you.’ This is a very honor. I said, ‘This is very nice. I appreciate it. ‘”
News, Fed Governor Adriana Kugler’s surprise announcement on Friday, this Friday, entered into force, he said. The Movement allows Trump to establish a FED Board of Directors at a time when the appointed by the appointed, the White House pushes the central bank to reduce interest rates in an aggressive way.
Among the remaining candidates are former Governor Kevin Warsh and National Economic Council Director Kevin Hassett and a key Trump Advisor. Both defended lower rates. Fed Governor Christopher Waller is also thought to be in the run.
“Both Kevins have very good and very good people, Tr Trump said, adding that Kugler’s resignation is” a pleasant surprise “.
The current president Jerome Powell ends in May 2026. Trump’s criticism often became the target of his criticism, and there is a speculation that the President will call a “shadow chair” that can help to weaken Powell until his term ends. Trump did not undertake to take this approach, but he acknowledged that it was “a possibility.”
In 2017, Trump nominated Powell for the FED business. Senate then confirmed Powell in February. “Sir, I will keep the interest rates too low. I am a low interest rate person,” Trump said on Tuesday.
Last week, the FED voted to keep the comparison interest rate constant in a range of 4.25-4.5%. The markets are waiting for the Fed to approve the next deduction in September. The Central Bank decreased its policy rate by September – December 2024, and Trump said that the democratic presidential candidate said that it was politically motivated to help Kamala Harris.
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