Reportedly, in response to questions about the qualities required of the next Federal Reserve Chair, U.S. Treasury Secretary Bessant said, "The new Chair must earn the trust of the market and be able to interpret complex economic data. The FOMC has 12 votes, so the Chair will need to coordinate and build consensus. More importantly, I believe the person at the helm must be forward-thinking and not be bound by historical data. What concerns me currently is the erosion of monetary policy independence. This independence is crucial for the smooth functioning of the economy and the management of inflation expectations. The Fed's (continuous) expansion into other areas has jeopardized this fundamental principle. Therefore, the next Chair must be able to re-examine the entire institution's role."

As for Trump's demand for a rapid Fed rate cut, Bessant said, "President Trump will express his position, and Senator Elizabeth Warren will also speak out. But the ultimate decision-making power lies with the independent Federal Reserve."