Scott Bessent, the intrepid U.S. Treasury Secretary, once floated an idea so wild it made Wall Street spill its martini: a “shadow Fed chair.” Last October, Bessent suggested naming Jerome Powell’s successor more than a year early,

President Donald Trump called Federal Reserve Chair Jerome Powell a “numbskull” for refusing the president’s requests that he drop interest rates. Trump, who has often clashed with Powell during his second term,

Trump pressures Fed Chair Powell for major rate cuts, citing savings, and signals possible replacement amid growing tensions.