The White House refutes rumors: Bessent is not the next candidate for The Federal Reserve (FED) chair, Powell's term ends in 2026.

[Mining] The White House: Reports concerning U.S. Treasury Secretary Basant being considered as a candidate for the next Chair of The Federal Reserve (FED) are not true. Previously, sources indicated that Powell’s term as Chair of the FED is set to expire in 2026. U.S. Treasury Secretary Basant is viewed as one of the candidates for the next Chair of the FED. The formal interview process for the next Chair of the FED has not yet begun.

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