Bessent emerges as contender to replace Powell in Fed hotseat

White House weighs key Trump ally to lead central bank Treasury secretary Scott Bessent has emerged as a leading candidate to replace Federal Reserve chairman Jerome Powell when his term expires in May 2026, according to sources familiar wi https://www.mpamag.com/us/mortgage-industry/industry-trends/bessent-emerges-as-contender-to-replace-powell-in-fed-hotseat/538722