The SCOTUS decision and the Fed chairman’s nomination will come in January, Bessent said
US Treasury Secretary Scott Bessent joins ‘Mornings with Maria’ to warn of the SCOTUS decision’s potential impact on national security, discuss the search for President Donald Trump’s Fed Chair and explain how prices, tax returns and growth plans will change in 2026.
Treasury Secretary Scott Bessent said Tuesday that two major decisions — the Supreme Court’s decision on taxes and the selection of a new Federal Reserve chairman — will come in January.
Bessent told FOX Business Network’s Maria Bartiromo that while the administration has “many options to make money,” he would like to see a Supreme Court ruling in the President’s favor. Donald Trump’s trade policy.
“Economic security is the protection of the country. Therefore, this decision is a national security decision and if they take a decision against the administration, they will be against the security of the country,” Bessent told Bartiromo.
TRUMP DEFENDS CURRENCIES, SAYING WE HAVE BEEN ‘THE KING OF FIGHTING’ ON TRADE INCEQUALITIES.
Treasury Secretary Scott Bessent visits “FOX & Friends” on November 12, 2025, in New York City. (John Lamparski/Getty Images/Getty Images)
The two cases, which Trump called “life or death” for the US, have forced the nation’s highest court to face how far the president can go in reorienting American trade policy.
Suits – Learning Resources Inc. v. Trump and Trump v. VOS Selections Inc. — brought in by a maker of educational toys and a family-owned wine and spirits retailer challenging Trump’s tariffs.
Both cases raise an important question: whether the International Emergency Economic Powers Act (IEEPA) gave the president the authority to set tariffs, or whether that measure is unconstitutional.
TRUMP SAYS SUPREME COURT CASE ON TRADE IS ‘LIFE OR DEATH’
President Donald Trump announced his “Independence Day” tax in April. (Brendan Smialowski/AFP/Getty Images)
Tariffs are taxes that the government imposes on imported goods. Although companies pay this tax at the border, they often pay the extra cost by raising prices, meaning consumers end up bearing the brunt.
Since Trump announced his “Independence Day” tariffs in April, overall tax money reached $215.2 billion in fiscal year 2025, which ended September 30, according to the Treasury Department’s “Customs and Some Excise Taxes” report.
That revenue potential has carried over into the new fiscal year. As of October 1, the government has collected 71 billion dollars for jobs.
Bessent also noted that, beyond tax policy, Trump is currently negotiating with nominees to lead the Federal Reserve.
LOOKING AT THE CIVIL WAR BETWEEN TRUMP AND POWELL OVER FED POLICY
Two candidates are now vying for the role that will shape the course of American monetary policy: Kevin Hassett and Kevin Warsh.
Bessent said Trump was “very deliberate” and “very direct” during the interview for the central bank’s top job.
“We had an interview last week. We may have one or two interviews this week and next week,” he added.
National Economic Council Director Kevin Hassett (L) and former Federal Reserve Governor Kevin Warsh. (Anna Moneymaker/Tierney L. Cross/Bloomberg/Getty Images/Getty Images)
Hassett is Trump’s top economic adviser, and Warsh was a former Morgan Stanley banker who served on the Federal Reserve Board of Governors.
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Bessent said he has known both candidates for more than 20 years and added that Hassett and Warsh are equally qualified for the role.
The chairman of the Federal Reserve Jerome Powellwho Trump appointed in 2017, is expected to finish his term in May 2026, when the next chairman will take over.
