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.

Treasury Secretary Scott Bessent said that there’s “no rush” to identify a successor to Federal Reserve Chair Jerome Powell, and that a nominee could potentially come from current board members or the heads of the district banks.

The White House is casting a wider net in its search for a replacement for Federal Reserve Chair Jerome Powell than is commonly thought, according to Treasury Secretary Scott Bessent.