Second-bottom Town have endured a woeful start to the Championship season having won just one of their opening seven matches, with last Saturday's 2-1 home defeat to Charlton - a third loss in succession - greeted with a chorus of boos from the Portman Road faithful.
But Clegg has told Ipswich Player: "I've got no doubts at all (that Paul is the right man for the job).
"Paul's the manager and it's business as usual. We're desperately trying to turn this situation around, Paul's more conscious than most people in terms of what needs to happen. He's a man who puts huge pressure on himself and I'm confident we are going to turn the season around."
Former Tottenham boss Redknapp is a close friend of Ipswich owner Marcus Evans and that has sparked heavy rumours he is about to take the reins at Town, with some bookmakers even stopping bets in the wake of the Charlton defeat.
"I can absolutely assure you there have been no conversations with any other managers," Clegg confirmed. "The stuff about Harry is laughable, really. People put two and two together and make probably about 27."