President Donald Trump said on Tuesday he would not select Treasury Secretary Scott Bessent as the next chairman of the Federal Reserve, stressing Bessent “wants to stay” at the Treasury Department.
“Well, I love Scott, but he wants to stay where he is,” Trump said on CNBC’s Squawk Box Tuesday morning. “I asked him just last night, ‘Is this something you want?’ [Bessent said], ’Nope, I want to stay where I am.’ He actually said, ‘I want to work with you.’ It’s such an honor. I said, ‘That’s very nice. I appreciate that.’”
Trump added that Bessent is “doing a great job,” confirming he “does not want” the top Fed post.
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The president’s comments ended speculation that the treasury secretary would be in the running to
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