President Trump is reportedly weighing the nomination of Scott Bessent, a known Bitcoin advocate, to succeed Jerome Powell as Chair of the Federal Reserve, according to the Wall Street Journal.
The move would mark a significant shift in monetary policy leadership, particularly as Bitcoin’s role in global finance continues to grow.
Trump’s frustration with the Federal Reserve’s cautious approach to interest rate cuts is at the heart of the potential acceleration in his selection timeline.
Powell’s current term runs for another 11 months, but sources say Trump may announce his replacement as early as September or October.
The President has expressed concerns that the Fed’s reluctance to act quickly on rates could hinder economic momentum and weaken his administration’s broader fiscal agenda.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/president-trump-might-tap-pro-crypto-scott-bessent-as-fed-chair-says-wsj/