U.S. Treasury Secretary Bessent said the administration is not planning to dismiss Federal Reserve Chair Jerome Powell and is in no hurry to nominate a successor, signaling continuity at the central bank for now. Bessent told Bloomberg Television that President Donald Trump has assured him Powell will not be fired. The Treasury chief added that Powell has not indicated any intention to step down before his four-year term as chair expires in May, although Bessent said it "would be very good for the Fed" if Powell chose to leave at that point. The Treasury Department will conduct a simultaneous search to fill the seat vacated by former vice chair for supervision Philip Kugler and to identify potential candidates for the chairmanship. Bessent declined to name prospects, including when asked about Governor Michelle Bowman, and said regular meetings with Powell continue "always."