Trump and Powell in Fed bust-up
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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.
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US Treasury Secretary Scott Bessent stated that Federal Reserve Chair Jerome Powell need not resign. This statement comes after Bessent called for a review of the Fed's operations. Bessent believes Powell should complete his term,
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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Treasury Secretary Scott Bessent says ‘formal process’ to find Jerome Powell’s successor has started
Treasury Secretary Scott Bessent said Tuesday that a “formal process” to find a successor for Federal Reserve Chair Jerome Powell has already started — as the Trump administration ratchets up pressure for the top central banker to step aside before his term ends.
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.’
The Treasury secretary also stated his preference that Powell step down from the Fed entirely when his term ends. “Traditionally, the Fed chair also steps down as a governor."