US Treasury’s Bessent: No Urgency in Replacing Fed Chair Powell

Bessent: No Rush to Replace Jerome Powell as Fed Chair

US Treasury Secretary Scott Bessent told Bloomberg TV on Wednesday that there’s no urgency to nominate a new Federal Reserve (Fed) Chair, amid persistent market speculation over Jerome Powell's potential departure.

Regular Communication, No Exit Signals

Bessent emphasized that he continues to have regular one-on-one meetings with Powell and noted that the Fed Chair has given no indication of stepping down or leaving his post on the Fed board.

“There’s no rush,” Bessent said when asked about the search for Powell’s potential replacement.

Market Context: Leadership Uncertainty Looms

The statement comes amid heightened political scrutiny of the Federal Reserve and growing questions around Powell’s future, particularly as President Trump has publicly criticized Powell’s policy decisions.

While some had speculated that Powell’s exit might be imminent, Bessent’s remarks offer a measure of stability, suggesting the Fed leadership transition is not currently a top priority for the administration.

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