There have been no indications from Powell that he plans to step down despite a barrage of criticism from the Trump administration.

"What we need to do is examine the entire Federal Reserve institution and whether they have been successful," Bessent told CNBC's Squawk Box.

Treasury Secretary Scott Bessent dismissed MSNBC host Jonathan Lemire’s negatively framed questions on Wednesday about President Donald Trump’s stance against

Welcome to The Hill’s Business & Economy newsletter {beacon} Business & Economy Business & Economy   The Big Story Bessent: Trump ‘not going to fire’ Powell

U.S. Fed Chair Jerome Powell spoke of a need to maintain a "safe, sound and efficient" U.S. banking system while Treasury Secretary Scott Bessent called Powell "good public servant" suggesting he finish his term.

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.

Treasury Secretary Scott Bessent said Tuesday that embattled Federal Reserve Chair Jerome Powell should finish out his term if he wants. “If he wants to see that through, I think he should. If he wants to leave early,