Treasury Secretary Scott Bessent said Monday he believes the Federal Reserve system should be reviewed for potentially holding back the US economy, which is “on the cusp” of growth that could equal the dot-com boom seen in the 1990s.

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.

Wrapping up two days of U.S.-China trade talks in Stockholm, Bessent said he also expressed U.S. displeasure at China's continued purchases of sanctioned Iranian oil, and its sales of over $15 billion worth of dual-use technology goods to Russia that have bolstered Moscow's war against Ukraine.

Treasury Secretary Scott Bessent joins Morning Joe to defend President Trump’s aggressive trade strategy, insisting “who pays the tariffs is a choice” and claiming inflation will remain “very benign.” Bessent says manufacturers and retailers are absorbing costs—and that Trump “won’t fire” Fed Chair Powell,

The CNBC Fed Survey found the leading contenders to succeed Jerome Powell as Fed Chair are Treasury Secretary Scott Bessent, former Fed Governor Kevin Warsh and Kevin Hassett, the National Economic Council director.

The president and the Treasury secretary have said they will wait for rates to fall before issuing longer-term bonds.