The Trump administration will focus on finding a replacement for Federal Reserve Chairman Jerome Powell this fall, U.S. Treasury Secretary Scott Bessent told CNBC on Thursday, adding that officials had "a lot of good candidates.

Donald Trump, in a social-media post, said Fed chairman Jerome Powell should “resign immediately.” It was an escalation of his public complaints about Powell, who Trump believes is keeping interest rates high for no reason.

As President Donald Trump and his advisers begin weighing replacements for Federal Reserve Chair Jerome Powell, they’re running into one significant complication: It’s not clear that Powell will leave the US central bank next year.