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US Treasury Secretary Bessent says ‘formal process’ for Powell successor has started, Bloomberg News reports
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.
Bessent: ‘Formal Process’ for Powell Successor Already Starting
US Treasury Secretary Scott Bessent said a “formal process” to identify a potential successor to Federal Reserve Chairman Jerome Powell is already starting. Bessent added, “I think it’d be very confusing for the market for a former Fed chair to stay on” after his term ends.
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