President Donald Trump said on Tuesday that Treasury Secretary Scott Bessent could be a candidate to replace Federal Reserve Chairman Jerome Powell, but suggested that might not happen.

President Donald Trump said Scott Bessent was an option to replace Jerome Powell as head of the Federal Reserve but suggested the Treasury secretary was not the leading candidate because of his success in his current role.

President Trump said Scott Bessent could potentially lead the Federal Reserve but the former hedge-fund manager wasn't his top choice because he was doing a good [job as Treasury secretary](

Treasury Secretary Scott Bessent said Tuesday that a “formal process” to find a successor for Federal Reserve Chair Jerome Powell has already started — as the Trump administration ratchets up pressure for the top central banker to step aside before his term ends.

Experts weigh in on how the housing market could react if Fed Chair Jerome Powell is dismissed, and they point to economic turmoil.

The Treasury secretary also stated his preference that Powell step down from the Fed entirely when his term ends. “Traditionally, the Fed chair also steps down as a governor."

Treasury Secretary Scott Bessent revealed that the Trump administration is now eyeing Aug. 1 as the date to slap the “Liberation Day” tariffs against countries that failed to cut

Treasury Secretary Scott Bessent, in an interview on Bloomberg Television, said he hasn't looked at the CPI number that's about to be released -- he is entitled to early access --but said not to read too much into one month's number.

Kevin Hassett, one of President Trump’s longest-serving economic aides, is the early front-runner to replace Jerome Powell as Federal Reserve chief next year, according to people familiar with the process.

President Donald Trump said Scott Bessent was an option to replace Jerome Powell as head of the Federal Reserve, but suggested the Treasury secretary was not the leading candidate because of his success in his current role.