U.S. Treasury Secretary Scott Bessent has emerged as a possible candidate to succeed Federal Reserve Chair Jerome Powell, Bloomberg News reported on Tuesday, citing people familiar with the matter, a report immediately denied by the White House.

A growing chorus of advisers inside and outside the Trump administration are pushing another name to serve as the next chair of the Federal Reserve: Treasury Secretary Scott Bessent.

Treasury Secretary Scott Bessent is being floated as the next chair of the Federal Reserve—an institution whose credibility rests on its independence from political meddling. Advisers inside and outside the White House are pushing for President Donald Trump to name Bessent as the successor to current Fed Chair Jerome Powell,