President Donald Trump is scheduled to visit the Federal Reserve in person Thursday — an unusual move that’s also a major escalation in the White House’s pressure campaign against Chair Jerome Powell.

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Amid tensions with the White House, Treasury Secretary Scott Bessent backed Fed Chair Jerome Powell, saying there's no need for him to step down before his term ends in May. However, Bessent suggested Powell has a chance to cement his legacy by reforming the Fed’s non-monetary functions.

U.S. Treasury Secretary Scott Bessent said on Wednesday that the Trump administration was not in a rush to nominate a new Federal Reserve Chair to replace Jerome Powell.

U.S. Treasury Secretary Scott Bessent is calling for a review of the central bank's operations as Federal Reserve Chair Jerome Powell faces mounting pressure to resign.

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.

In the Oval Office, President Trump and Treasury Sec. Scott Bessent had tough words for Fed Chair Jerome Powell.

President Donald Trump on Sunday disputed a Wall Street Journal story alleging that Treasury Secretary Scott Bessent urged him to avoid firing Federal Reserve Chair Jerome Powell partly over concerns about the impact of his potential removal on the U.S. economy, declaring that he knows “better than anybody what’s good for the Market.”