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Federal Reserve Chair Jerome Powell has not confirmed whether he will remain on the Fed board after his chair term ends in May 2026, stating he is focused on completing his current term. His board membership lasts until January 2028, and the last chair to continue serving on the board after their term was Marriner Eccles in 1951. Amid discussions of potential successors, concerns about the Fed's independence have been raised, particularly with the upcoming presidential transition.
Scott Bessent, founder of Key Square Group LP and a leading candidate for Treasury secretary under Donald Trump, praised the president-elect’s economic agenda, asserting it would foster growth across diverse sectors. In a Fox News interview, he emphasized the success of the economy during Trump's previous term, stating, “We had a great economy under Trump 1.0.”
The competition for Donald Trump’s Treasury secretary position is intensifying, with Scott Bessent gaining significant endorsements while Howard Lutnick, a transition co-chair, unexpectedly expresses interest in the role. Trump was reportedly surprised to learn of Lutnick's candidacy during a recent meeting.
Key advisers to President-elect Donald Trump are endorsing Scott Bessent, head of macro hedge fund Key Square Group, for the position of Treasury Secretary. Bessent has gained Trump's respect through his campaign contributions, including fundraising and drafting economic policies. No official decision has been made regarding the appointment.
Donald Trump plans to narrow his shortlist for Treasury Secretary this week, favoring candidates with Wall Street experience. Potential nominees include Howard Lutnick, CEO of Cantor Fitzgerald, hedge-fund billionaire John Paulson, former Soros manager Scott Bessent, and Virginia Governor Glenn Youngkin, a former Carlyle Group executive.
Prominent investors Scott Bessent and John Paulson are emerging as the top candidates for the position of U.S. Treasury Secretary following Donald Trump's election victory. This information comes from a donor and two individuals close to the president-elect.

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