Bessent takes running for office ‘off the table’ but stays open to Fed chairman
Scott Bessent has ruled out running for elected office but said he coudl consider serving as Federal Reserve chair. He’s become a technocratic figure within the Trump governance, fueling speculation about a future run after leaving his post.In a Wall Street Journal interview, he dismissed presidential or other elective ambitions, saying, “I will take that off the table” and that he would “be the Colin Powell of this administration.” He left open the possibility of Fed chair, arguing there’s no election involved and one can shape the economy as head of the institution. If not chosen, he plans to return to the private sector, focusing on supply chains, military readiness, AI policy, and financial regulation. He’s been a key advocate for Trump’s economic policies and a frequent explainer of them to the public, including on Iran.He’s also been optimistic that gas prices could fall to around $3 a gallon by midsummer.
Treasury Secretary Scott Bessent ruled out a run for office, but said he was open to serving as Federal Reserve chairman.
Bessent has gained popularity beyond Trump’s base as a capable technocrat within the Trump administration, fueling speculation that he may run for office after he leaves the position. In an interview with the Wall Street Journal, the Treasury Secretary waved off the possibility, saying he had no interest in running for the presidency or any other elective office.
“I will take that off the table,” he said. “I will be the Colin Powell of this administration.”
However, Bessent took a different tone when the possibility of being the Fed chair came up.
“I wouldn’t say ‘no’ to being Fed chair later,” he said. “There’s no election involved. You can shape the economy, and it’s an institution.”
If not chosen for that position, Bessent told the outlet he planned to return to the private sector, where he’d like to focus on supply chains, military readiness, Artificial Intelligence policy, and financial regulation.
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Bessent hitched his wagon to Trump in 2023, using his reputation on Wall Street to rally support among business leaders for the returning president. He’s played a key role in both crafting Trump’s economic policies and pitching them to the public.
His perceived effectiveness has given him an expanded public role, frequently taking to the airwaves to explain Trump’s approach to issues such as the war in Iran.
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