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.

President Donald Trump said Scott Bessent was an option to replace Jerome Powell as head of the Federal Reserve but suggested the Treasury secretary was not the leading candidate because of his success in his current role.

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.