U.S. Treasury Secretary Scott Bessent said on Wednesday that the Trump administration was not in a rush to nominate a new Federal Reserve Chair to replace Jerome Powell.

In the interview, Bessent again noted that Trump has said he is not going to fire Powell. The president reportedly openly mulled the idea of firing the Fed chair in a meeting with lawmakers last week, but afterwards told reporters such a move was unlikely, although he didn’t completely rule it out.

In a shocking turn of events, turns out Treasury Secretary Scott Bessent is the reason Jerome Powell still has a job today. While the White House was stirring chaos over the Federal Reserve chair, Scott stepped in behind the scenes,