U.S. Treasury Secretary Bessent seen steering Fed chair selection, analyst says

Market analyst Gabriel Rubin said on Dec. 15 that Treasury Secretary Bessent's tight control over selecting Powell's successor would leave the Treasury effectively steering the Fed, BlockBeats reports. He cited government statements setting criteria: align regulation with the White House, sharply lower rates given tariff-inflation fears are overstated, and have the Treasury manage government debt issuance.