President Donald Trump said Tuesday that Treasury Secretary Scott Bessent is no longer on the list to replace Federal Reserve Chair Jerome Powell .

“Well I love Scott, but he wants to stay where he is,” Trump said on CNBC’s Squawk Box . “I asked him just last night, ‘Is this something you want?’ ‘Nope I want to stay where I am.’”

“I just take him off. He does not want it. He likes being Treasury secretary,” Trump said.

Powell’s term as Fed chair ends in 2026, and Trump has been highly critical of his hesitation to lower interest rates , calling him a “moron” and “too late.”

Trump is considering his own replacements for the Fed’s board of governors amid his criticism of Powell over his stance on interest rates.

Others Trump is considering to replace Powell include Kevin Warsh

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