Who's in the Running for Fed Chair?

President Trump has decided to cross Scott Bessent off his shortlist for the next Federal Reserve chair. Bessent, who serves as the Treasury Secretary, made it clear he's happy with his current role. Trump shared this news during an interview and even joked about picking TV anchors for the job.

Finalists and Controversies

Trump mentioned he has four finalists in mind to replace Jerome Powell, whose term ends in 2026. He's been vocal about his displeasure with Powell's handling of interest rates, calling him "too late" and "highly political." Despite this, Trump has said he won't try to remove Powell before his term is up.

The president also talked about other potential candidates, like Kevin Hassett and Kevin Warsh. Hassett, who currently leads the National Economic Council, didn't rule out taking the job if offered. Warsh, a former Fed board member, was considered for the role before but was passed over in favor of Powell.

Economic Concerns and Job Market Woes

Trump believes Powell's approach to keeping interest rates high is making it harder to manage the country's debt. However, some experts argue that inflation is still above the Fed's target, justifying Powell's stance. Recently, the Fed decided to keep interest rates between 4.25% and 4.5%.

On top of this, Trump is dealing with a disappointing jobs report. Only 73,000 jobs were added in July, and previous months' numbers were revised downward. Trump fired the Bureau of Labor Statistics Commissioner, accusing her of manipulating the data.

Trump's Frustration with Economic Policies

During the interview, Trump made it clear he's not happy with the current economic situation. He's been pushing for lower interest rates for a while now, blaming Powell for the delay.