Scott Bessent will not run for the Federal Reserve Chair. The Treasury will remain

President Donald Trump on Tuesday Treasury Secretary Scott Bessin said He will not be running to become the next president of the Federal Reserve.

“He wants to stay in his place. I will take it out – because I just asked him last night,” Is this something you want? ” “both. “I want to work with you,” Trump said in an interview with CNBC on Tuesday morning. “He loves to be the cabinet minister. He is doing a really good job. We have held the largest commercial deals in our country’s history. We had that because we were tearing the world.”

Bessent has previously reduced the rumors that he could be chosen to replace the current Federal Reserve Chairman Jerome Powell next spring, as Fox Maria Bartiromo was told last month that he was still satisfied with his current function in management.

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However, he confirmed that the administration had started an “official operation” to choose Khalifa Powell, with the term end of the Federal Reserve Chairman in May 2026, amid increasing tensions between Trump and Powell.

When asked about the schedule to announce the new Federal Reserve Chairman, Pisent said it was “President Donald TrumpA decision, and it will move at its speed. “

Powell stressed that “he will never leave this job voluntarily.” However, the tensions between Powell, which were originally appointed by Trump in 2017, and the president in the height, continued to prove the interest rate decisions in the central bank a certain friction point. Trump wants to reduce interest rates, but the Federal Reserve has not done so since 2024.

Last month, Trump told the White House correspondents that Powell is “poor work.”

The Federal Reserve maintains a major interest rate for the fifth consecutive meeting despite Trump’s pressure

After the central bank left interest rates without changing last week, Trump criticized Powell, describing him as “very stupid, very political, to have the job of the Federal Reserve Chairman” on the social truth.

This represents the fifth consecutive meeting The Federal Reserve maintains the fixed standard interest rate, noting the uncertainty about the impact of definitions on inflation and consumer prices as well as conditions in the labor market.

Powell President He said at the post -cancellation press conference that although inflation remains higher than the long -term goal of the Federal Reserve, the labor market works almost completely, leaving the central bank in a good position to reduce prices if economic conditions deteriorate.

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He also pointed out that the customs tariff seems to increase the prices of consumers and pay inflation data to the top, although it is not clear that the long -term effect on the economy will be.

Before the meeting, Trump described the growth of the economy by 3 % in the second quarter, and wrote on the social truth that it was “better than expected!” He added, “It must now reduce the rate” is too late. “There is no enlarged!

Eric Rafeel in Fox Business contributed to this report.