
Bessent emerges as possible contender to succeed Fed's Powell, Bloomberg reports
June 10 (Reuters) - U.S. Treasury Secretary Scott Bessent has emerged as a possible candidate to succeed Federal Reserve Chair Jerome Powell, Bloomberg News reported on Tuesday, citing people familiar with the matter.
Bessent joins a small list of Fed chair candidates that has included Kevin Warsh, a former Fed official whom Trump previously interviewed for Treasury secretary, Bloomberg added.
The White House did not immediately respond to a request for comment.
Trump said on Friday he would name a successor to Powell very soon. Bloomberg, citing two unidentified people familiar with the matter, reported that formal interviews for the job have not begun.
Bessent is leading Trump's sweeping global trade overhaul and has a hand in pushing for changes to taxes and regulation.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

South Wales Argus
an hour ago
- South Wales Argus
Canada is independent and sovereign, says Starmer ahead of visit
In an apparent challenge to the US President, the Prime Minister said the country was a 'much-valued member of the Commonwealth'. Sir Keir indicated the UK and Canada will seek to restart trade talks on his way to meet Mark Carney, the country's premier and former Bank of England governor, in the Canadian capital on Saturday. The visit will be the first by a British premier to the country in eight years and comes ahead of leaders from the world's major economies meeting for the G7 summit in Kananaskis next week. The Prime Minister will be walking a diplomatic tightrope between strengthening bilateral relations with Canada and keeping Mr Trump, with whom he is finalising details of a transatlantic trade deal, on side. The US President has repeatedly expressed a desire to make Canada the '51st state.' Asked whether he had called out Mr Trump's remarks about Canada, the Prime Minister said: 'Canada and the US are our allies. Canada is an independent, sovereign nation, and quite right, too. 'And that's the basis on which I've approached my discussions with all of our partners. I'm not going to get into the precise conversations I've had, but let me be absolutely clear: Canada is an independent, sovereign country and a much-valued member of the Commonwealth. 'And we work closely with Canada on any number of issues, whether that is defence and security – particularly the training in Ukraine, it's been something where Canada and the UK have worked very closely together.' He added: 'And one of the things I want to do is to open the door to taking out further, reducing out trade barriers with Canada. So, I'm really clear where we stand on that.' The UK and Canada have a trade relationship worth about £28 billion to the British economy and are both members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. But the two leaders have starkly different approaches to the US president. Mr Carney previously criticised the UK Government's invitation for Mr Trump to make a second state visit, telling Sky News earlier this year that Canadians were 'not impressed' by the gesture. Downing Street said Sir Keir would use his visit to Canada to argue that 'in a shifting global economy, the UK must retain its proud status as a free and open trading nation – strengthening our existing alliances while reducing barriers to trade with other countries around the world'. He is also expected to meet Mr Trump at the summit next week.


Daily Mail
an hour ago
- Daily Mail
Texas reps. attending anti-Trump rally warned of 'credible threats'
The Texas Department of Public Safety has warned Saturday that 'credible threats' have been made to state legislators and their staff who plan to attend an anti-Trump rally at the Capitol in Austin. This comes hours after two Democratic Minnesota lawmakers and their spouses were shot by a former appointee of the state's governor , Tim Walz. The DPS alert was sent out just before 1pm on Saturday, according to emails obtained by The Texas Tribune . Austin's 'No Kings Day' protest was scheduled to begin at 5pm, and roughly a half hour before, Texas House Democratic Caucus Chair and state Rep. Gene Wu confirmed it would commence as planned, despite the threats. 'We have every indication from the Austin No Kings organizers and Hands Off Central TX that our demonstration will continue,' Wu said in a statement. 'We are in active conversations with public safety officials, as well as state and local leaders to ensure have the opportunity to exercise their First Amendment rights without fear, intimidation, or violence,' he added. And ten minutes before 5pm, a man was arrested in connection to the threats made this afternoon, a spokesperson with Texas DPS told A state trooper with DPS arrested the man in La Grange, a city 65 miles southeast of Austin. The spokesperson said there is no longer an active threat against the Austin protest, which is one of more than 2,000 'No King Day' events across the country on Saturday meant to protest President Donald Trump's actions in his second term. Officials scheduled to speak at the Capitol protest include Democratic US Reps. Greg Casar and Lloyd Dogfgett; Democratic state Reps. Lulu Flores and John Bucy III; and Democratic state Sen. Sarah Eckhardt. Organizations involved with coordinating this large-scale resistance are strongly pushing back against what they describe as Trump's march toward authoritarianism on issues such as immigration enforcement, civil rights and cuts to the federal government through DOGE. The simple message people involved want to get across is that 'we don't do kings in America,' said Ezra Levin, the co-executive director of progressive organizing group Indivisible. The protests were also meant to counter Trump's military parade in Washington, D.C. , which began at 6:30pm ET. The threat against Austin's 'No Kings Day' protest came at a particularly sensitive moment. Early on Saturday morning, a gunman entered the residence of Minnesota state Senator John Hoffman and his wife early Saturday, shooting both and leaving them critically injured. He then proceeded to the home of former Democratic House Speaker Melissa Hortman, where she and her husband were fatally shot. Both lawmakers who were shot were Democrats. Vance Luther Boelter, 57, who was appointed by Walz in 2019 to serve a four-year stint on the Governor's Workforce Development Board, has been identified as the suspect in the quadruple shooting. The first shooting occurred just after 2am at Hoffman's home in Champlin, about 20 miles from Minneapolis. Hoffman and his wife were shot multiple times, KSTP reported. The second attack took place at around 4am at Hortman's Brooklyn Park residence, eight miles south. After that shooting, police engaged the suspect in a gunfight on the street, officials said. Drew Evans, head of the Minnesota Bureau of Criminal Apprehension, confirmed that the suspect escaped during the exchange and remains at large. According to the Minnesota Bureau of Criminal Apprehension, Boelter stands at 6-foot-1, weighs roughly 220 pounds and has brown hair and brown eyes.

Leader Live
an hour ago
- Leader Live
Military parade kick offs in US capital as protesters decry Trump
Hours before the parade honouring the Army's 250th anniversary was set to start, demonstrators turned out in streets and parks around the nation to decry the Republican president as a dictator or would-be king. They criticised Trump for using the military to respond to those protesting his deportation efforts and for sending tanks, thousands of marching troops and military aircraft out for show in the US capital. In Washington DC, anti-war protesters unfurled signs that said 'Homes not drones' not far from a display of armoured vehicles, helicopters and military-grade equipment on the National Mall set up to commemorate the US Army's birthday. Bowls of red, white and blue punch were ladled out to attendees, along with slices of a large Army-themed cake that uniformed officials cut with a sabre. Vendors outside the festival sold gear marking the military milestone. Others hawked Trump-themed merchandise. Mr Trump has been wanting a military parade in Washington DC ever since he watched one in France with tanks, soldier and jets overhead in 2017. His dream is set to finally be realised on a day that coincides with his 79th birthday and Flag Day, after organisers tacked the parade onto the line-up for the Army celebration. Mr Trump got regular updates on the planning and made requests for aircraft and hardware to capture the might of the military. The military procession was set to step off from the Lincoln Memorial later on Saturday, under the threat of stormy weather and to the accompaniment of protests elsewhere in the city. Mr Trump brushed off the possibility of both disruptions, with a social media post on Saturday morning that said the 'great military parade' would be on 'rain or shine'. The protests, he said earlier, 'will be met with very big force'. Hours ahead of the parade, crowds of protesters with anti-Trump signs marched toward the White House, escorted by police vehicles and officers on bicycles. Some held a giant banner that read: 'TRUMP MUST GO NOW'. The parade has drawn criticism for its price tag of up to 45 million dollars and the possibility that the lumbering tanks could tear up city streets. The US Army has taken a variety of steps to protect the streets, including laying metal plates along the route. About 6 in 10 Americans said Saturday's parade was 'not a good use' of government money. The vast majority of people, 78%, said they neither approve nor disapprove of the parade overall, according to a poll from The Associated Press-NORC Centre for Public Affairs Research. Saturday's event is expected to include about 6,600 soldiers, 50 helicopters and 60-ton M1 Abrams battle tanks, as well as possibly 200,000 attendees and heightened security to match.