Besant's personnel screening pushes the Federal Reserve back to traditional behind-the-scenes operations, giving the U.S. Department of the Treasury more influence

Odaily Planet Daily News: US President Trump announced that the next Federal Reserve Chair will be selected in early January next year. Bessent has organized and overseen the candidate screening process, thereby establishing an agenda that could bring comprehensive reforms to the Federal Reserve while also promoting rate cuts. US Treasury Secretary Scott Bessent is at a critical moment in his government career, which could be decisive. Although the transition of power at the Federal Reserve poses risks to Bessent, a more plausible scenario is that he will gain new authority. He will work with a Federal Reserve Chair willing to cooperate, who may be inclined to grant the Treasury Department some powers traditionally considered politically sensitive and outside the scope of the administrative branch. This could give the Treasury greater influence over large-scale asset purchases and sales by the Fed (known respectively as quantitative easing and quantitative tightening). (Jin10)