US EditionBessent: ‘Formal process’ underway to pick Powell successor
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12 Articles
Bessent: ‘Formal process’ underway to pick Powell successor
Treasury Department Secretary Scott Bessent on Tuesday said the process to pick a new chair of the Federal Reserve has started, ahead of Chair Jerome Powell’s term ending in 2026 and amid growing pressure from the White House for him to step aside early.
Trump Starts Process to Replace Fed Chair, Won’t Oust Powell Early, Bessent Says
Treasury Secretary Scott Bessent said on July 15 that the “formal process” for selecting a successor to Federal Reserve Chairman Jerome Powell is already underway, but he emphasized that President Donald Trump has no plans to remove Powell before his term expires in May 2026, despite the president’s criticism of the Fed chief’s performance. In an interview on Bloomberg Television on Tuesday, Bessent was asked whether there have been any updates …
NEW: Trump Admin Begins Process To Fire And Replace High-Profile Official
U.S. Treasury Secretary Scott Bessent confirmed on Tuesday that there is currently a “formal process” underway to replace Federal Reserve Chairman Jerome Powell. Bessent stated during an interview with Bloomberg Surveillance, “There are a lot of great candidates, and we’ll see how rapidly it progresses.” Bessent then pointed out that it wouldn’t make sense to keep Powell in his current position at the Federal Reserve once his term is over. Presi…
Jerome Powell, president of the Federal Reserve, may presume to possess a certainly disputed title: that of Washington’s most pressured official. The last push toward the exit door of his post at the head of the U.S. central bank was given on Tuesday by Treasury Secretary Scott Bessent, who confirmed to Bloomberg that the process to seek his successor, when his term of office expires in May next year, is already underway. Continue reading
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