🇺🇸 Treasury Secretary Bessent says they are working to select Fed Chair Jerome Powell's replacement in coming weeks.

The White House is set to begin interviewing candidates to replace Federal Reserve Chair Jerome Powell this fall, six months before his term ends in May 2026, ensuring a smooth transition while respecting the Fed's operational independence.

According to Treasury Secretary Scott Bessent, the White House plans to start interviewing candidates this fall, with Powell's term ending in May 2026. This allows for a six-month lead time to ensure a smooth transition.

The White House will begin interviewing potential successors to Jerome Powell this fall, providing ample time for selection and preparation.

Despite public calls for lower interest rates, Bessent reassured that the administration respects the Federal Reserve's operational independence.

Bessent highlighted the distinction between the Fed's monetary policy decisions and its regulatory responsibilities, suggesting more discussion may focus on the latter.

Regular meetings between Bessent and Powell indicate stability in financial markets with no significant concerns requiring emergency planning.#DYMBinanceHODL $BTC