Bessent Highlights Patience in Fed Chair Nomination

U.S. Treasury Secretary Scott Bessent discussed the Trump administration's approach to nominating a new Federal Reserve Chair, emphasizing there is no rush to replace Jerome Powell. Despite regular meetings, Powell has not indicated any plans to vacate his position, according to Bessent.

In a recent interview with Bloomberg TV, U.S. Treasury Secretary Scott Bessent disclosed that the Trump administration is not hurrying to nominate a successor for the Federal Reserve Chair position currently held by Jerome Powell.

Bessent indicated that his communications with Powell remain consistent, yet Powell has neither confirmed nor denied an intention to depart from his role.

The Treasury Secretary's comments underscore a strategic, unhurried approach to navigating leadership changes at the Federal Reserve, aligning with broader administrative strategies.

(With inputs from agencies.)