Bessent says there's a 'very good chance' Trump names new Fed chair before Christmas

Core Viewpoint - U.S. Treasury Secretary Scott Bessent anticipates that President Trump will announce the new Federal Reserve chair by the holiday season, indicating progress in the selection process [1][2]. Group 1: Federal Reserve Chair Succession - Bessent is leading the search for a successor to current Chair Jerome Powell and has one interview remaining [2]. - There is a strong possibility that an announcement will be made before Christmas, although the final decision rests with the President [2]. - Trump has expressed a desire to fire Powell and has encouraged Bessent to influence the Fed to lower interest rates [2][3]. Group 2: Monetary Policy Context - Bessent noted that monetary policy has become increasingly complex, suggesting that it involves more than just cutting interest rates [3]. - Trump humorously remarked about the urgency of addressing monetary policy issues, indicating the pressure on Bessent to deliver results [3].