Treasury Secretary Scott Bessent: 'Very good chance' Trump names new Fed chair before Christmas

Group 1: US-China Trade Relations - President Trump announced a visit to Beijing in April following a phone call with Chinese President Xi, focusing on China's commitment to purchase US soybeans while the US lowers tariffs on China [1] - China is on schedule to purchase a minimum of 87 million metric tons of soybeans over the next three and a half years, indicating a positive trajectory in trade relations [1] - The US maintains its position on Taiwan and emphasizes the need for cooperation on the Ukraine conflict, suggesting a complex but stable relationship between the two nations [1] Group 2: Diplomatic Engagements - President Trump and President Xi are set to have multiple meetings throughout the year, including state visits and participation in international summits, which is expected to enhance stability in US-China relations [2] - The ongoing dialogue and high-level meetings are viewed as beneficial for both American citizens and the global economy, highlighting the importance of diplomatic engagement [2] Group 3: Federal Reserve Chair Selection - The selection process for a new Federal Reserve chair is ongoing, with five strong candidates being considered, reflecting the complexity of the Fed's operations beyond simple monetary policy [4][5] - The interplay between monetary policy, balance sheet management, and regulatory policy is a key focus in the selection criteria, indicating a shift in the Fed's operational dynamics [5] - An announcement regarding the new Fed chair is anticipated before Christmas, with the final interview still pending, suggesting a timely resolution to the selection process [7]