Treasury Secretary Scott Bessent told Bloomberg on Tuesday a “formal process” has been launched to find Federal Reserve Chair Jerome Powell’s successor, following months of pressure from President Donald Trump to have Powell step down from his role at the agency.

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.

Federal Reserve Chair Jerome Powell requested an inspector general review of the central bank's $2.5 billion headquarters renovation after Trump officials criticized cost overruns.

Analysts at Deutsche Bank consider the president's removal of Fed chief Jerome Powell "one of the largest under-priced event risks over the coming months."

U.S. Federal Reserve Chair Jerome Powell has asked the Fed board's inspector general to take a fresh look at the project aimed at overhauling Fed buildings, Politico reported on Monday, citing a letter to lawmakers by Powell.

President Donald Trump renewed his criticism of Federal Reserve policy under Jerome Powell, calling the chair a "knucklehead" and advocating for interest rates to be at less than 1%.

The White House uses an overbudget renovation of Fed headquarters to pressure Fed Chair Powell out of his job. Will it work? And does it even matter?

Bitcoin tops $120K as markets prepare for inflation data and a Powell ouster, with analysts warning of a modern-day 'Nixon shock' that could shake global confidence.

Two top contenders to replace Jerome Powell slammed the Fed chair for a $2.5 billion renovation of the central bank's headquarters. One says the Trump administration is examining whether it can fire the policymaker,

US Fed chair Jerome Powell continues to face mounting pressure to step down amid scrutiny into whether he was truthful to Congress about the Fed's 'Palace of Versailles' renovation to its headquarters in Washington,