[Trump to Select New Federal Reserve Chair Early Next Year, Besent Pushes for Increased Treasury Influence] U.S. President Trump stated that the next Federal Reserve Chair will be selected in early January next year. U.S. Treasury Secretary Scott Besent organized and oversaw the candidate selection process and established an agenda that could bring comprehensive changes to the Federal Reserve while advocating for interest rate cuts. Besent may collaborate with the new Federal Reserve Chair, with the Treasury potentially gaining greater influence over the Federal Reserve's asset operations in quantitative easing and quantitative tightening.