WASHINGTON

US President Donald Trump said Tuesday that Treasury Secretary Scott Bessent "does not want" to be the next chairman of the Federal Reserve, but acknowledged that four others are under consideration.

Trump said Bessent "wants to stay where he is," but declined to specify who is being considered to replace Federal Reserve Chairman Jerome Powell.

“I asked him just last night, 'Is this something you want?' 'Nope, I want to stay where I am.' He actually said, 'I want to work with you. It’s such an honor.' I said, 'That’s very nice. I appreciate that,'" Trump said, recalling his discussion with Bessent, during an interview with CNBC.

CNBC reported that former Federal Reserve Governor Kevin Warsh, Kevin Hassett, Trump's National Economic Council director, and Fed Governor Christopher Waller are all thought to be under consideration to replace Powell, a target of Trump's ire as he has so far refused heed the president's demand to lower interest rates due to fears that it could dramatically affect inflation.

The chairman's term expires in May 2026. He was appointed to the post in 2017 by Trump, and was nominated for a second term by former President Joe Biden.