US president says the Treasury secretary wishes to stay in his current role.
United States President Donald Trump has ruled out Secretary of the Treasury Scott Bessent as his pick to replace Federal Reserve Chair Jerome Powell.
Trump, who has repeatedly criticised Powell for not moving faster to lower interest rates, said on Tuesday that Bessent wished to continue in his current role.
“I love Scott, but he wants to stay where he is,” Trump said in an interview with CNBC, adding that Bessent was doing a “great job” and had told him as recently as Monday that he did not want the position.
Trump said he had four candidates in mind to replace Powell, whose term expires in May, including Kevin Warsh, who formerly served on the Fed’s seven-member board of governors, and Kevin Hassett, the director of the White House National Economic Council.
