US Treasury Secretary Bessent says ‘formal process’ for Powell successor has started, Bloomberg News reports

15-07-2025 20:29 HKT

U.S. Treasury Secretary Scott Bessent takes questions from reporters at the Institute of International Finance (IIF) Global Outlook Forum on sidelines of the IMF and World Bank?? 2025 annual Spring Meetings in Washington, D.C., U.S., April 23, 2025. REUTERS/Elizabeth Frantz

US Treasury Secretary Scott Bessent, in an interview on Bloomberg Surveillance on Tuesday, said that a "formal process" is already starting to identify a potential successor to Federal Reserve Chairman Jerome Powell.

"There are a lot of great candidates, and we’ll see how rapidly it progresses," Bessent said.

Bessent also said it would be confusing for Powell to remain at the Fed after his term as chair ends.

Reuters

Scott Bessent Fed chair Jerome Powell successor

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