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Trump: Bessent Doesn't Want to Be Nominated as Fed Chair

August 06, 2025

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Mint Chennai

U.S. President Donald Trump said Treasury Secretary Scott Bessent told him he didn't want to be nominated to replace Jerome Powell as the next chair of the Federal Reserve.

- Bloomberg

"I asked him just last night, is this something you want?" Trump said Tuesday in an interview with CNBC. Bessent's response was, "Nope, I want to stay where I am," he said.

"He's doing a great job, and he wants to do what he's doing, so I just take him off. He does not want it," Trump continued. "He likes being Treasury secretary. He's doing a really good job."

Trump said he was considering four candidates—including former Federal Reserve governor Kevin Warsh and National Economic Council director Kevin Hassett—for the post, but cautioned he didn't intend to make the decision soon.

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