U.S. Treasury Secretary Scott Bessent said on Wednesday that the Trump administration was not in a rush to nominate a new Federal Reserve Chair to replace Jerome Powell.

Treasury Secretary Scott Bessent said that there’s “no rush” to identify a successor to Federal Reserve Chair Jerome Powell, and that a nominee could potentially come from current board members or the heads of the district banks.

Treasury Secretary Scott Bessent offered support for Jerome Powell amid regular attacks from Trump administration officials, saying he sees no reason for the Federal Reserve chair to step down. “There’s nothing that tells me that he should step down right now,