Trump Eyes Scott Bessent to Fill Powell’s Shoes as Fed Chair in 2026

The race for the U.S. Federal Reserve’s leadership is heating up even before Jerome Powell’s term ends in 2026. President Trump is reportedly considering Treasury Secretary Scott Bessent as his top choice to replace Powell, despite Powell’s continued term until May of that year. This move reflects Trump’s growing dissatisfaction with Powell’s approach to interest rates, a major point of contention throughout their working relationship.