President Donald Trump said on Tuesday that Treasury Secretary Scott Bessent could be a candidate to replace Federal Reserve Chairman Jerome Powell, but suggested that might not happen. After landing at Joint Base Andrews following a trip to Pittsburgh,

Scott Bessent, before assuming his role as the Treasury Secretary, spent his career in finance, working for macro investment billionaire George Soros and noted short seller Jim Chanos, as well as running his own hedge fund.

The Treasury secretary also stated his preference that Powell step down from the Fed entirely when his term ends. “Traditionally, the Fed chair also steps down as a governor."