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According to a report by Jinse Finance, citing the Wall Street Journal: Sources familiar with the matter say that U.S. Treasury Secretary Bessent is leading the search for the next Federal Reserve Chair. The team will broaden the selection process to include new names on the list of candidates. New contenders include former St. Louis Fed President James Bullard and former George W. Bush advisor Mark Zandi.

According to a report by Jinse Finance citing The New York Times, four sources familiar with the matter have revealed that Trump is preparing to remove Billy Long from his position as Commissioner of the U.S. Internal Revenue Service, a role he has held for only two months. The sources stated that Long, a former Republican congressman and staunch Trump ally, is expected to be nominated for an ambassadorial post. It remains unclear who will succeed him as IRS Commissioner. This year alone, the agency has already seen six leadership changes. A senior government official indicated that Treasury Secretary Scott Besant will serve as acting commissioner until a permanent successor is appointed. Long’s appointment was considered highly unusual, given his limited background in tax policy. Aside from promoting a tax credit that the IRS had previously warned carried significant fraud risks, he has little relevant experience. During his time in Congress, he even supported legislation to abolish the IRS.