U.S. Fed Chair Jerome Powell spoke of a need to maintain a "safe, sound and efficient" U.S. banking system while Treasury Secretary Scott Bessent called Powell "good public servant" suggesting he finish his term.

There have been no indications from Powell that he plans to step down despite a barrage of criticism from the Trump administration.

Treasury Secretary Scott Bessent dismissed MSNBC host Jonathan Lemire’s negatively framed questions on Wednesday about President Donald Trump’s stance against

"What we need to do is examine the entire Federal Reserve institution and whether they have been successful," Bessent told CNBC's Squawk Box.

Treasury yields were broadly higher as traders turn their attention to the Federal Reserve’s monetary policy meeting next week.

Treasury Secretary Scott Bessent is taking aim at the Federal Reserve and the rules the Fed enforces as a supervisor of big banks.

US Treasury Secretary Scott Bessent says there are a lot of candidates on the Federal Reserve board and within the regional banks that could become the potential next Fed chair and talks about Jerome Powell’s future at the Fed once his term as Chair concludes in May.