U.S. Treasury Denies Fed Chair Search Leadership Role

Reports on August 10 indicate U.S. Treasury Secretary Scott Bessent is purportedly leading the search for a successor to Federal Reserve Chair Jerome Powell, although official confirmation remains absent.

This unverified leadership claim holds potential market significance, yet lacks impact without primary-source verification, affecting crypto assets like BTC and ETH if substantiated.

Reports of Treasury Involvement in Fed Chair Search Unverified

Reports emerged claiming that the U.S. Treasury, led by Scott Bessent, is conducting a search for the next Fed Chair. However, no official confirmation supports this, and traditional protocol indicates this is a role reserved for the President.

Primary source checks indicate the claim lacks verification, with neither the U.S. Treasury nor the White House providing statements to confirm. Market speculation could arise, yet official sources must affirm changes for substantive impact.

Reactions from key financial figures have been minimal, likely due to the speculative nature of the claim. Any market speculation should be approached with caution until official confirmation emerges.

Donald Trump, President of the United States, said, “I asked him just last night, ‘is this something you want?’ He does not want it — he likes being Treasury secretary.”

Minimal Market Impact Without Presidential Confirmation

Did you know? In history, the search for a Fed Chair has always been the President’s prerogative. Any Treasury involvement would signal an unprecedented procedural shift.

Bitcoin currently trades at $121,664.24, with a market cap of $2.42 trillion according to CoinMarketCap. Over the past 90 days, Bitcoin has increased by 19.15%, while the 24-hour trading volume reached $73.51 billion. This reflects a continuing recovery in the market despite speculative geopolitical news.

Coincu’s research team highlights that without official confirmations, the market impact of such claims remains speculative. Historical trends show Fed Chair appointments create ripples, but only when confirmed by the President. Traders remain cautious amid uncertainties.