Treasury Secretary Scott Bessent tells President Donald Trump he wants to stay in his role rather than pursue Fed chair role as Jerome Powell succession process begins.

The Treasury secretary has said he has “the best job in Washington,” although he has often been floated as a name for the top job at the central bank.

With Treasury Secretary Scott Bessent not in the running, President Trump said that he has narrowed his list of replacements to four people.

Treasury Secretary Scott Bessent said Wednesday that short-term interest rates should be between 1.5 percentage points and 1.75 percentage points lower than their current level, keeping up the

US Treasury Secretary Scott Bessent says there are 10 or 11 candidates under consideration to succeed Jerome Powell when his term as Federal Reserve Chair ends in May. He says both current Fed officials as well as private-sector individuals are being looked at.

U.S. Treasury Secretary Scott Bessent said the new Federal Reserve chair should be someone "who can examine the whole organization" as the Fed's mission has included so many things outside of monetary policy and has put its independence at risk,