Behind the Scenes: Trump's Treasury and Fed Power Play

Donald Trump is considering Kevin Warsh for Treasury Secretary with a potential transition to Federal Reserve chair. Trump is also contemplating Scott Bessent for the National Economic Council. The Wall Street Journal highlights other contenders and the importance of Fed independence, amidst pending leadership decisions.

President-elect Donald Trump is contemplating appointing Kevin Warsh, a former Federal Reserve Board member, as Treasury Secretary with the potential to later assume the role of Federal Reserve chair, according to The Wall Street Journal.

Scott Bessent, an experienced hedge fund investor, is also under consideration to lead the National Economic Council, potentially replacing Warsh at Treasury in the future. Other contenders for the Treasury position include Marc Rowan, U.S. Senator Bill Hagerty, and Robert Lighthizer.

Trump is deliberating how to fill upcoming Federal Reserve leadership roles. Kevin Warsh, known for advocating Fed independence, is seen as an unconventional choice for Trump, who favors imposing tariffs. Trump's decisions on these critical appointments remain anticipated by economists and policymakers.

(With inputs from agencies.)