President Trump on Tuesday told reporters that he has begun interviews for the next chair of the Federal Reserve. The term of the current chair, Jerome Powell, is set to end in May.
"We have some surprising names and we have some standard names that everybody's talking about," Trump said when asked about the Fed search during an Oval Office appearance with visiting Crown Prince Mohammed bin Salman of Saudi Arabia. "We may go the standard way. It's nice to, every once in a while, go politically correct. But we have some great names."
The president said that the Treasury Secretary, Scott Bessent, who was considered a possible replacement for Powell, did not want the job.
Reporter: “Have you started the interviews for the Fed chair?”
— RedWave Press (@RedWave_Press) November 18, 2025
President Trump: “Yes… I think I already know my choice. Well, I liked him. *Points to Secretary Scott Bessent* But he’s not going to take the job.”
“We’re talking to various people… I’d love to get [Jerome… pic.twitter.com/yiFgP0l5aM
Bessent himself quelled rumors that he would be seeking the position, telling Fox News' Bret Baier, "I can safely say that I will not be the Fed chair. I think President Trump would make a great Fed chair; he has an open mind, he understands monetary policy better than a lot of people on the Fed."
Bessent: I think President Trump would make a great fed chair. He understands monetary policy better than a lot of people. pic.twitter.com/goVpevGYSP
— Acyn (@Acyn) November 18, 2025
President Trump also took the opportunity to bash Powell, telling reporters: "I'd love to get the guy currently in there out... but people are holding me back."
