Push for Treasury Secretary Bessent to be next Fed chief

A growing chorus of advisers inside and outside the Trump administration are pushing another name to serve as the next chair of the Federal Reserve: Treasury Secretary Scott Bessent.

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WASHINGTON — A growing chorus of advisers inside and outside the Trump administration are pushing another name to serve as the next chair of the Federal Reserve: Treasury Secretary Scott Bessent.

US President Donald Trump said on June 6 he would name a successor "very soon" to replace Mr. Jerome Powell, whose term as Fed chair ends in May 2026.

The small list of candidates under consideration has included Mr. Kevin Warsh, a former Fed official whom Mr. Trump interviewed for the Treasury secretary role in November, according to people familiar with the matter.

But Mr. Bessent — who is leading Mr. Trump's effort to kick-start the US economy with sweeping changes to trade, taxes, and regulation — is also now one of the contenders for the job, said the people.

Formal interviews for the position have not begun, two of the people said.

"I have the best job in Washington," Mr. Bessent said in response to a request for comment. "The President will decide who's best for the economy and the American people."