Could Scott Bessent as Fed Chair Bring a Crypto Market-Friendly Shift?

With the Jerome Powell Fed chair term set to end in May 2026, speculations are heating up around who will be next Fed chairman. A new name is gaining attention: Scott Bessent, currently the U.S. Treasury Secretary and a top economic advisor to Donald Trump. According to Bloomberg, US P resident recently said he will name a replacement for Jerome Powell “very soon.” This has sparked strong interest from political circles, financial analysts, and crypto investors.

Source: X

Bessent vs Powell: A Shift in Monetary Direction?

The relationship between Jerome Powell and Trump has long been tense. Donald has criticized Jerome' s current interest rate policy of 4.25% to 4.50%, pushing for rate cuts to help the U.S. compete globally. Powell, however, insists on keeping the Fed’s independence and sticking to data-based decisions.

Enter Scott , who is being seen as Trump’s potential choice to change that tone. A Bloomberg report says Donald insiders and advisors now back Scott as Federal Reserve Chair candidate , believing his appointment could bring more market-friendly policies. Bessent, confirmed as Treasury Secretary in January 2025, is not just close to Trump—he was also one of the top donors and fundraisers for Trump’s 2024 campaign. This deep Scott relationship with US P resident makes his nomination highly possible, especially if he wants more direct influence on Fed policy .

If appointed, Bessent Fed chair is expected to support lower interest rates, something Trump has been demanding. This change could boost market liquidity, reduce borrowing costs, and give a lift to risky assets like stocks and crypto.

What Polymarket Predicts: Bessent Gaining Ground

Prediction platform Polymarket Fed chair prediction shows how the public is betting on the next chair announcement. As of June 9, 2025, the leading forecast is “No Announcement by December 31,” holding 47%—showing that many still think US P resident might delay the decision.

Source: Polymarket

Among the named candidates, Kevin Warsh is slightly ahead with 28.5%, but Scott is close behind with 26%. His rising percentage shows that more people are starting to believe that US President will pick Bessent. Other names like Kevin Hassett are far behind in the betting race, holding just 4%.

This speculation around who will Donald announce as next chair is gaining traction, especially because of how it could impact the financial and crypto markets. The total market volume on Polymarket is now over $184,000, showing how important this decision is.

Crypto Market Reaction: Could Bessent Boost Investor Sentiment?

In crypto market news , Scott is viewed as pro-crypto . He supports clear regulation for stablecoins, appreciates gold as a long-term store of value, and firmly opposes a U.S. central bank digital currency (CBDC). His stance is seen as supportive for crypto investors and blockchain-based finance.

If Bessent replaces Powell, the Fed may take a more flexible approach toward interest rates, potentially leading to a market rally. For crypto investors, lower rates mean better liquidity and more capital inflows. With Bessent’s background in finance and his alignment with Donald ’s views, many believe he could bring a new direction.

Conclusion

The decision about who will be the next chairman is still pending, but Scott news is now at the center of this debate. His close ties with Donald , favorable views on markets, and growing presence in Polymarket Fed chair prediction are pushing him forward as a strong contender.

As the Jerome Powell term nears its end, the battle between Scott vs Trump loyalty and Powell vs Trump independence will decide the future of U.S. monetary policy—and possibly bring a wave of new momentum to the crypto market .