Transition of Power

Powell Can Finish Remainder of Fed Term, Says Trump’s Treasury Nominee Scott Bessent

‘Jay Powell will serve out his term,’ said incoming Treasury Secretary Scott Bessent.
Powell Can Finish Remainder of Fed Term, Says Trump’s Treasury Nominee Scott Bessent
Key Square Group founder Scott Bessent speaks at a campaign event for Republican presidential nominee and former President Donald Trump in Asheville, N.C., on Aug. 14, 2024. Jonathan Drake/Reuters
Andrew Moran
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Federal Reserve Chair Jerome Powell can complete the remainder of his term, says Scott Bessent, a Wall Street billionaire financier and President-elect Donald Trump’s nominee to lead the Treasury Department.

“As the president said on Sunday, and I’m in complete agreement with him, that Jay Powell will serve out his term,” Bessent told CNBC on Dec. 10.

Andrew Moran
Andrew Moran
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Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."