President Donald Trump said Scott Bessent was an option to replace Jerome Powell as head of the Federal Reserve but suggested the Treasury secretary was not the leading candidate because of his success in his current role.

Mr Trump has repeatedly urged current US Federal Reserve Chairman Jerome Powell to resign. Read more at straitstimes.com. Read more at straitstimes.com.

Other candidates under consideration include former Federal Reserve governor Kevin Warsh and top economic adviser Kevin Hassett.

Kevin Hassett, one of President Donald Trump’s longest-serving economic aides, is the early frontrunner to replace Jerome Powell as Federal Reserve chief next year, according to people familiar with the process.