Trump Treasury pick reveals whether Fed Chair Powell will finish term

Federal Reserve Chair Jerome Powell will serve out the remainder of his first term in charge of the U.S. Central Bank, according to President-elect Trump's pick for Treasury secretary.

Hedge fund manager Scott Bessent told CNBC that he is "in complete agreement" with Trump "that Jay Powell will serve out his term." Bessent spoke to the outlet after meeting with Sen. Mike Crapo, R-Idaho, as he visits with senators ahead of his confirmation hearing to be the next head of the Treasury Department.