According to TechFlame, according to Kim 10 data, US Treasury Secretary Bennett suggested that Federal Reserve Chairman Powell should step down from the Federal Reserve Board of Governors when his term as chairman ends in May 2026. Bessent said on Tuesday: “According to tradition, when the chairman of the Federal Reserve leaves office, he will also resign as a board member at the same time. There have been many discussions about the 'shadow Federal Reserve Chair' before, saying it would cause confusion before the official nomination. I can make it clear that if the former chairman of the Federal Reserve remains on the board of directors, it may be very confusing for the market.” Powell's term as a member of the Federal Reserve will not end until January 2028, which means that even if his term as chairman ends in May next year, he may still remain at the Federal Reserve and participate in monetary policy formulation. Powell has repeatedly declined to respond as to whether he will continue to serve as a board member. This silence complicates the decisions of President Trump and his aides as they adjust the Federal Reserve's leadership next year. Bessent also said, “The formal process for determining the nomination of the next Federal Reserve Chairman has begun, and there are many excellent candidates from within and outside the Federal Reserve.”