Advisers are suggesting Treasury Secretary Scott Bessent as a potential successor to Jerome Powell as Federal Reserve chair. While Kevin Warsh, a former Fed official, is also under consideration, Bessent’s leadership in economic initiatives and trade negotiations positions him as a strong contender. Trump is expected to announce his decision soon.
Justice Department drops criminal probe of Fed chair Powell, likely clearing way for Warsh
The Justice Department has concluded its investigation into Federal Reserve chair Jerome Powell. This decision removes a significant obstacle to the confirmation of Kevin Warsh,