The billionaire investor also stated that Trump’s tax bill might pressure the stock and bond markets in the coming times.

Billionaire hedge fund manager Paul Tudor Jones reportedly stated that President Donald Trump can be expected to appoint an “uber dovish” Federal Reserve Chair to boost his growth agenda.

In an interview with Bloomberg Television, Jones contended that Treasury Secretary Scott Bessent is likely to be Trump’s pick for the post when Jerome Powell’s term concludes.

Bessent is reportedly emerging as a top contender who could succeed Jerome Powell as the Federal Reserve Chair, after Trump said on Friday that he would nominate a successor “very soon.”

According to a Bloomberg report, Bessent’s name has received support from advisors within and outside the Trump administration to lead the Federal Reserve. Another contender is Kevin Warsh, a former Fed official whom President Trump interviewed for the Treasury Secretary position.

Jones called the contenders “fabulous names” but said Bessent is a stand-out candidate given his loyalty to Trump and the President’s focus on growth.

The billionaire investor also stated that Trump’s tax bill might pressure the stock and bond markets in the coming times and hinted that it will prompt rate cuts over the next 12 months.

“The Big, Beautiful Bill is really interesting — the name of it is a genius in branding,” he said, according to the Bloomberg report. “What is the counterfactual to the Big, Beautiful Bill? If you had to balance the budget, it would probably be the Big Beastly Bill.”

“At some point, the bond market will call B.S. on governments around the world playing chicken with them,” Jones added.

Meanwhile, Trump on Wednesday urged the Fed to go for a full 100 basis points rate cut, given that the inflation is under control.

“CPI JUST OUT. GREAT NUMBERS! FED SHOULD LOWER ONE FULL POINT. WOULD PAY MUCH LESS INTEREST ON DEBT COMING DUE. SO IMPORTANT!!!” he wrote on Truth Social.

Trump’s post came after U.S. consumer prices rose slower than expected in May amid increasing economic uncertainty due to the tariff wars.

According to data from the Bureau of Labor Statistics (BLS), the consumer price index (CPI) rose 0.1% in May on a seasonally adjusted basis, following a similar rise in April. On an annual basis, CPI rose 2.4% before the seasonal adjustment.

Benchmark U.S. indices traded in the green on Wednesday morning. The SPDR S&P 500 ETF Trust (SPY), which tracks the S&P 500, traded 0.26% higher, while the Invesco QQQ Trust, Series 1 (QQQ), which tracks the Nasdaq Composite, was up 0.38%.

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