Archive · 2 Jul 2025

Trump Weighs Warsh, Bessent to Replace Powell at Fed

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.

Sources