US Treasury Secretary Bessent praises Bullard in search for Fed chief

Core Insights - U.S. Treasury Secretary Scott Bessent is actively searching for a new Federal Reserve chairman and has had a productive discussion with former Fed official James Bullard [1][2] - Bullard, who previously served as president of the Federal Reserve Bank of St. Louis, expressed his interest in the chair position and emphasized the importance of maintaining the dollar's reserve currency status, controlling inflation, and preserving the Fed's independence [2] - Bessent indicated that if inflation is perceived as a problem, the administration would support interest rate hikes from the Fed, and he anticipates a decrease in inflation in the near future [3] Group 1 - Bessent had a two-hour session with Bullard, highlighting Bullard's expertise in monetary policy and his deep understanding of the Federal Reserve [1] - Bullard's priorities for the Fed chair position include defending the dollar's reserve status and ensuring low and stable inflation [2] - The administration is benefiting from revenue generated by new tariffs, with Bessent noting that many exporters are absorbing these tariffs [3]