US Treasury Secretary Scott Bessent said the next Federal Reserve Chair must be able to analyze complex organizational issues, as the central bank’s mission now extends beyond monetary policy.

Speaking to Nikkei, Bessent stressed that Jerome Powell’s successor must gain market trust and a forward-looking approach, rather than relying solely on historical data. Earlier, Reuters reported that Bessent is seeking a candidate to replace Powell, noting that the Fed Chair could be replaced once his term expires in 2026.

His comments come amid frequent criticism of Powell from President Donald Trump, who has urged faster and deeper rate cuts to boost the US economy. Powell has resisted, keeping a cautious stance on policy.

Scott Bessent asserted that the Federal Reserve remains independent despite White House rhetoric. He also added that the White House’s definition of a strong dollar is tied to the relative value of the US currency compared with other means of payment: “If America pursues sound economic policy, then the dollar will naturally be strong.”

Separately, the official touched upon US–Japan relations. The US Treasury had earlier supported the Bank of Japan’s intention to tighten its monetary policy, saying this would help “normalize” the weakness of the yen. At the same time, Bessent emphasized that Kazuo Ueda, Governor of the Bank of Japan, and the central bank’s board “are targeting inflation, not the currency.”

Despite exiting a prolonged period of monetary stimulus by raising interest rates amid expectations that Japan’s inflation would reach the 2% target, the Bank of Japan remains extremely cautious about further rate hikes. However, according to several analysts, this very stance of the central bank has contributed to the weakening of the yen.