Trump's 'I Like You Better' Sparks Talk Of Bessent As Next Fed Chief
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President Trump's remark during a Cabinet meeting has sparked speculation about Treasury Secretary Scott Bessent potentially succeeding Jerome Powell as Fed Chairman. Trump criticized Powell for high interest rates and hinted at Bessent's candidacy. Bessent downplayed the rumors, emphasizing his current role. Concerns arise over central bank independence if Bessent, a Trump ally, becomes chairman. His dovish stance on interest rates has led to optimism among investors, reflected in the strong performance of the SPDR S&P 500 ETF Trust amid the speculation.
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