The president is testing the Fed's limits -understanding his thinking could protect your financial future Behind all these political theatrics lies a classic Washington feud. Scott Bessent, the intrepid U.S. Treasury Secretary, once floated an idea so wild it made Wall Street spill its martini: a "shadow Fed chair." Last October, Bessent suggested naming Jerome Powell's successor more than a year early, essentially telling the U.S. Federal Reserve chair to sit down, shut up and stop steering - even though he was still in the driver's seat. Imagine appointing a second captain midflight because you don't like the ... (full story)