Archive · 2 Jul 2025
Trump Weighs Warsh, Bessent to Replace Powell at Fed
President Trump wants to choose a new head of the US Federal Reserve, the group that controls the country's money.
He wants to replace the current head, Jerome Powell, before his term is up.
Two main people are being considered for the job: Kevin Warsh, who used to work for the Fed, and Scott Bessent, who is the current US Treasury Secretary.
The President has criticized Powell and wants interest rates to be lower.
This has caused lots of discussion about who should run the Federal Reserve next.
President Trump plans to name a successor to Jerome Powell as Fed chair.
Two contenders have emerged: Kevin Warsh and Treasury Secretary Scott Bessent.
Trump wants Powell removed before his term ends in May 2026.
Warsh is a former Fed Board of Governors member.
Bessent currently serves as the US Treasury Secretary.
- Who
- Donald Trump, Jerome Powell, Kevin Warsh, and Scott Bessent.
- What
- The potential successors to Jerome Powell as head of the Federal Reserve.
- When
- The term ends in May 2026.
- Where
- United States.
- Why
- Trump wants to appoint a new Fed chair and has been critical of Powell.
Powell's Performance
Future Monetary Policy
Term of Service
Powell's Performance
Powell's actions may warrant removal.
Future Monetary Policy
Powell's term should be respected.
- Current Fed Chair
- Jerome Powell
- Possible Successor
- Kevin Warsh
- Possible Successor
- Scott Bessent
- Trump's Role
- Plans to name the successor
- Current Treasury Secretary
- Scott Bessent