Powell, Scott Bessent and Federal Reserve
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In the interview, Bessent again noted that Trump has said he is not going to fire Powell. The president reportedly openly mulled the idea of firing the Fed chair in a meeting with lawmakers last week, but afterwards told reporters such a move was unlikely, although he didn’t completely rule it out.
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 said Tuesday that embattled Federal Reserve Chair Jerome Powell should finish out his term if he wants. “If he wants to see that through, I think he should. If he wants to leave early,
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.
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.’
Treasury yields were broadly higher as traders turn their attention to the Federal Reserve’s monetary policy meeting next week.