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

“Bessent is trying to show Trump there is a path to get what he wants without unnecessary market turmoil,” said Stephen Myrow, managing partner at Beacon Policy Advisors. That path would involve allowing Powell to finish out his term as chair and stepping down from the Federal Reserve board once his chairmanship is up.

Welcome to The Hill’s Business & Economy newsletter {beacon} Business & Economy Business & Economy   The Big Story Bessent: Trump ‘not going to fire’ Powell

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.

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U.S. Treasury Secretary Scott Bessent breaks down President Donald Trump’s trade deals, Federal Reserve chair Jerome Powell and more on ‘The Ingraham Angle.’

Federal Reserve Chair Jerome Powell has told multiple associates and allies that there’s no chance he will bow to President Donald Trump’s calls for him to resign, vowing to withstand several more months of the president’s unprecedented,