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Trump's Treasury Secretary Scott Bessent Shapes Next Fed Chair Selection

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U.S. Treasury Secretary Scott Bessent is shaping the next Fed Chair selection, a move that could impact liquidity and crypto markets. Bessent has narrowed the list to four candidates, including Kevin Hassett and Kevin Warsh, both favoring rate cuts and closer White House coordination. Trump has stressed the importance of the choice, warning Bessent that failure could lead to his removal. Bessent aims to restore a collaborative Treasury-Fed relationship, echoing the 1951 Accord. The selection process also ties into broader efforts on Countering the Financing of Terrorism.
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