What does "chroot: failed to run command 'passwd': no such file or directory." mean?

I was trying to install Arch Linux in VirtualBox, and made it through most of the setup without any issues. However, once it got past the partition setup it started spamming the console with the following message: chroot: failed to run command 'passwd': no such file or directory. It does not appear to be moving past this and seems to be stuck there. If anyone can come up with an answer for fixing this I would highly appreciate it. Thanks in advance Tommy.