President Donald Trump acknowledged Treasury Secretary Scott Besant as a potential candidate to succeed Jerome Powell as Federal Reserve Chair while indicating he isn't the top contender, citing Besant's successful performance in his current role.
When reporters directly questioned Trump about Besant's potential nomination on Tuesday, the President responded, "He is an option and an excellent one." Pressed on whether Besant represented the optimal choice, Trump clarified, "He isn't, because I appreciate the work he's doing" in the Treasury Department.
Trump simultaneously escalated his criticism of incumbent Fed Chair Powell, condemning the cost overruns plaguing the Federal Reserve headquarters renovation project. The President characterized the expenditures as "quite disgraceful," suggesting such mismanagement could constitute grounds for dismissal, though he stopped short of threatening Powell's immediate removal.
Offering a personal assessment, Trump remarked, "I've always considered him thoroughly inflexible, but never imagined him as someone demanding palatial accommodations," referencing the renovation controversy. The comments underscore Trump's ongoing tensions with Powell while maintaining Besant's credentials for consideration.
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