Trump Is Eyeing Four Names for Fed Chair — And None of Them Is Scott Bessent

President Donald Trump on Tuesday ruled out Treasury Secretary Scott Bessent as a potential replacement for Jerome Powell as chair of the Federal Reserve.

Trump said he spoke with Bessent about potentially taking the role, but the secretary wanted to remain in his role at the Department of the Treasury.

“I love Scott, but he wants to stay where he is,” Trump said Tuesday on CNBC. “I asked him just last night, ‘Is this something you want?’ ‘Nope, I want to stay where I am.’”