Jerome Powell, Scott Bessent
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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,
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.”
Former Treasury Secretary Janet Yellen supported Federal Reserve Chairman Jerome Powell finishing his term, which is up in May 2026.
Donald Trump has repeatedly criticized Jerome Powell for not cutting interest rates, and he escalated his attacks on the Fed chair last week.