Scott Bessent told lawmakers he has no knowledge of DOGE access to the tax agency’s Integrated Data Retrieval System.

At the heart of the debate over Bessent's appointment is the thorny question of the central bank's independence. Trump has never concealed his frustration with Powell, whom he appointed in 2017, for his reluctance to lower interest rates in the face of tariff uncertainty.

Scott Bessent, the U.S. Treasury Secretary and a central figure in President Donald Trump’s second-term economic team, is being seen as a serious contender to succeed Jerome Powell as Federal Reserve chair.

Trump is reportedly considering Treasury Secretary Scott Bessent among top contenders to replace Fed Chair Jerome Powell, who he has criticized over interest rates.

Paul Tudor Jones said President Donald Trump is likely to appoint an “uber dovish” Federal Reserve chair to accommodate his growth agenda, contending that Treasury Secretary Scott Bessent would likely be his pick when Jerome Powell’s term ends next year.