Trump in ‘no rush’ to choose successor to Fed Chair: Bessent

Scott Bessent, US Treasury Secretary

US Treasury Secretary Scott Bessent said that the Trump administration is in “no rush” to nominate a successor to Federal Reserve Chair Jerome Powell.

In an interview with Bloomberg on Wednesday, Bessent noted that his meetings with Powell are still held regularly and that Powell has not informed him of any intention to leave his position at the Federal Reserve.

He indicated that Trump is strengthening the US negotiating position by signaling the possibility of higher tariffs, seeing this move as a way to give the US more leverage in trade talks.

“Trump is sending a clear message — either negotiate under fair terms or face higher tariffs. The choice is up to the other party,” he said.