Federal Reserve, Jerome Powell
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Treasury Secretary Scott Bessent said Tuesday that a “formal process” to find a successor for Federal Reserve Chair Jerome Powell has already started — as the Trump administration ratchets up pressure for the top central banker to step aside before his term ends.
US Treasury Secretary Scott Bessent says the search for Fed Chair Jerome Powell's successor is formally underway and suggests Powell should exit entirely in May 2026
U.S. 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.
What To Know As He Reportedly Considers Powell Successor. ByDerek Saul, Former Staff. Derek Saul has covered markets for the Forbes news team since 2021. Jun 26, 2025, 10:15am EDT. Share.