BESSENT SAYS NEXT FED CHAIR NEEDS TO 'SIMPLIFY THINGS' Bessent said on CNBC that President Trump may choose the next Federal Reserve chair before Christmas. Bessent is finishing interviews with the five candidates to replace Jerome Powell. He said the Fed has become overly complex under its current “ample reserves” system and needs to return to a simpler, more traditional role. “We’ve got to simplify things,” he said.(*Walter Bloomberg)