U.S. Treasury Secretary Scott Bessent said on Tuesday that President Donald Trump could make a decision on the next chair of the Federal Reserve as soon as next week.
Speaking to CNBC, Bessent said the selection process has narrowed to four candidates and noted that Trump has already held discussions with each of them.
During the interview, Bessent also criticized current Fed Chair Jerome Powell, saying it was a mistake for him to attend a Supreme Court hearing.
Despite the criticism, the Treasury Secretary stressed that the Federal Reserve’s independence remains essential, underlining the administration’s support for the central bank’s autonomy in setting monetary policy.
Bessent also struck an upbeat tone on the broader economic outlook, saying the United States appears to be entering the early stages of a productivity-driven expansion.
