Bessent Seeks Simpler Fed: Candidates, Balance Sheet & Regional Banks
Update: 2025-11-25
Description
Treasury Secretary Scott Bessent emphasizes simplification in the search for the next Federal Reserve chair. He believes the Fed has become too complex and is looking for candidates who can streamline its operations. Bessent recently concluded his final round of interviews with five finalists, including Federal Reserve Governors Christopher Waller and Michelle Bowman, former Governor Kevin Warsh, National Economic Council Director Kevin Hassett, and BlackRock executive Rick Rieder. Bessent also expressed concerns about the ample reserves approach and the Feds prominence, suggesting a need for less redundancy and a more localized leadership.
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