Treasury Secretary Scott Bessent ruled out a run for office, but said he was open to serving as Federal Reserve chairman.
Bessent has gained popularity beyond Trump’s base as a capable technocrat within the Trump administration, fueling speculation that he may run for office after he leaves the position. In an interview with the Wall Street Journal, the Treasury Secretary waved off the possibility, saying he had no interest in running for the presidency or any other elective office.
“I will take that off the table,” he said. “I will be the Colin Powell of this administration.”
However, Bessent took a different tone when the possibility of being the Fed chair came up.
“I wouldn’t say ‘no’ to being Fed chair later,” he said. “There’s no election involved. You can shape the economy, and it’s an institution.”
If not chosen for that position, Bessent told the outlet he planned to return to the private sector, where he’d like to focus on supply chains, military readiness, Artificial Intelligence policy, and financial regulation.
BESSENT ‘OPTIMISTIC’ GAS PRICES WILL FALL TO $3 A GALLON BY MIDSUMMER
Bessent hitched his wagon to Trump in 2023, using his reputation on Wall Street to rally support among business leaders for the returning president. He’s played a key role in both crafting Trump’s economic policies and pitching them to the public.
His perceived effectiveness has given him an expanded public role, frequently taking to the airwaves to explain Trump’s approach to issues such as the war in Iran.
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