Fed Chair Scott Bessent? The Race to Replace Jay Powell

The Big Take from Bloomberg News discusses President Trump's upcoming decision on who will succeed Jerome Powell as chair of the Federal Reserve. David Gura speaks with Nancy Cook and Saleha Mohsin about potential candidates, including Kevin Warsh and Scott Bessent, and what Trump is looking for in a Fed chair, namely someone who aligns with his economic policies. They explore the importance of Fed independence and the potential consequences of Trump naming a successor so far in advance. The discussion also covers the economic challenges the next Fed Chair will face, such as tariffs, economic growth, and tax policy.

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Big Take

Introduction to the Fed Chair Succession and Trump's Frustration

Trump's Criteria for a Fed Chair and the Importance of Fed Independence

Scott Bessent as a Potential Fed Chair Candidate

Bessent's Political Acumen and Potential Approach as Fed Chair

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Update on the Fed Chair Succession Process and Potential Candidates

The Concept of a Shadow Fed Chair and its Potential Consequences

Comparing Potential Candidates and the Challenges Facing the Next Fed Chair

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Fed Chair Scott Bessent? The Race to Replace Jay Powell

Big Take

00:00Introduction to the Fed Chair Succession and Trump's Frustration

Introduction to the Fed Chair Succession and Trump's Frustration

04:08Trump's Criteria for a Fed Chair and the Importance of Fed Independence

Trump's Criteria for a Fed Chair and the Importance of Fed Independence

07:09Scott Bessent as a Potential Fed Chair Candidate

Scott Bessent as a Potential Fed Chair Candidate

09:49Bessent's Political Acumen and Potential Approach as Fed Chair

Bessent's Political Acumen and Potential Approach as Fed Chair

12:38Advertisement Break

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14:51Advertisement Break

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15:53Update on the Fed Chair Succession Process and Potential Candidates

Update on the Fed Chair Succession Process and Potential Candidates

18:07The Concept of a Shadow Fed Chair and its Potential Consequences

The Concept of a Shadow Fed Chair and its Potential Consequences

20:21Comparing Potential Candidates and the Challenges Facing the Next Fed Chair

Comparing Potential Candidates and the Challenges Facing the Next Fed Chair

23:32Advertisement Break and Podcast Outro

Advertisement Break and Podcast Outro