It should come as no surprise that Treasury Secretary Scott Bessent declined to be the next Federal Reserve chairman. Spend any time listening to Bessent talk, and it is clear he is laser-focused on one thing,

Donald Trump has ruled out appointing Treasury secretary Scott Bessent to the Federal Reserve, as he narrows the list of candidates to lead the US central bank. The US president on Tuesday told CNBC he had asked Bessent on Monday night if he wanted to move to the Fed but the Treasury secretary responded that he wanted to stay in his current role.

President Donald Trump said Tuesday that Treasury Secretary Scott Bessent is no longer a possibility to replace Federal Reserve Chair Jerome Powell in 2026.