Bessent: Trump may announce the new Fed Chair next week.

Trump's Thoughts on New Fed Chair Candidates

During the 56th Annual Meetings of the World Economic Forum (WEF) held in Davos, Switzerland, Bessent spoke to reporters regarding the new Fed chair candidates.

Bessent emphasized that there are "four great" candidates for the new Fed chair, stating, "This is the President's (Trump's) decision, and I think there will be an announcement about it next week."

Greenland Discussions and Relations with Europe

Bessent expressed confidence that a solution would be found between the U.S. and Europe regarding the plans to "take over" Greenland, questioning Europe's ability to respond effectively to Trump's Greenland tariffs.

Bessent stated, "This issue has just come up; however, I am sure that the U.S. and Europe will find a solution that will ensure national security," assessing the situation. He also added, "(It’s been) 48 hours since the tariff announcement. Relax. I am confident that leaders will not escalate the situation and that a good outcome will be achieved."

Possibility of a Trade War

In response to a reporter's question about the likelihood of a prolonged trade war between the U.S. and Europe, Bessent urged, "Why are you thinking of the worst-case scenario? Take a deep breath."

Potential Fed Chair Candidates

The current Fed Chair Jerome Powell's term will expire in May 2026. Among the prominent candidates for the new Fed chair position are Rick Rieder (BlackRock Executive), Kevin Hassett (Chairman of the Council of Economic Advisers), Christopher Waller (Fed Board Member), and Kevin Warsh (former Fed Board Member).