Trump may name next Fed Chair before Christmas: Scott Bessent

US Treasury Secretary Scott Bessent says US and China will always be natural rivals

US Treasury Secretary Scott Bessant confirming five finalists to succeed Fed Chair Jerome Powell.

In an interview with CNBC, he added that there is a good chance President Trump will choose a new Fed chair before Christmas.

Bessant, who is currently leading the search for Powell's successor, explained that he still has one interview left with the potential candidates and is not prepared to speculate on who will take the position. He added, "We've reached a point where monetary policy is very complex, and it's more than just lowering borrowing costs."

This comes amid ongoing pressure and criticism from Trump directed at Powell for not cutting interest rates to the level the administration desires.

Regarding US-China relations, Bessant said, "We will always be natural rivals."