Bessent emerges as possible contender to succeed Fed's Powell: Report

US Treasury Secretary Scott Bessent has emerged as a possible candidate to succeed Federal Reserve Chair Jerome Powell, Bloomberg News reported on Tuesday, citing people familiar with the matter, a report immediately denied by the White House.

Bessent joins a small list of Fed chair candidates that has included Kevin Warsh, a former Fed official whom Trump previously interviewed for Treasury secretary, Bloomberg added.

A White House official dismissed the Bloomberg report as false.

Trump said on Friday he would name a successor to Powell very soon. Bloomberg, citing two unidentified people familiar with the matter, reported that formal interviews for the job have not begun.

Bessent is leading Trump's sweeping global trade overhaul and has a hand in pushing for changes to taxes and regulation.