Bessent says very good chance Trump will announce new Fed chair before Christmas

US Treasury Secretary Scott Bessent said on Tuesday there was a very good chance President Donald Trump would announce a new chairman of the Federal Reserve before Christmas.

"So we're going to have the last interview in the second round today. Andrew, we got five very strong candidates," Bessent said in an interview with CNBC. Jerome Powell's term as Fed chair ends in May.

Beside, Chinese purchases of American soybeans are "right on schedule," he said, after Beijing agreed to buy 87.5 million metric tons of the product over the next three and a half years.

Staff reporter and Reuters