President Donald Trump said on Tuesday that Treasury Secretary Scott Bessent could be a candidate to replace Federal Reserve Chairman Jerome Powell, but suggested that might not happen. After landing at Joint Base Andrews following a trip to Pittsburgh,

Scott Bessent is not going to be the next Federal Reserve chair. This came only hours after Scott himself said he’d be “happy to do it” if asked. The timing was insane. One moment, the Treasury Secretary was on Bloomberg TV talking like a front-runner.

Scott Bessent, before assuming his role as the Treasury Secretary, spent his career in finance, working for macro investment billionaire George Soros and noted short seller Jim Chanos, as well as running his own hedge fund.