Jerome Powell, Federal Reserve and Trump
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Four potential Powell replacements have been shortlisted by the betting market. Here's who's in the running to be the next Fed Chair.
1hon MSN
Scott Bessent turns up the heat on the Fed, demands probe as Powell’s future hangs in balance
"What we need to do is examine the entire Federal Reserve institution and whether they have been successful," Bessent told CNBC's Squawk Box.
On July 29-30, the Federal Open Market Committee will announce its interest rate policy. Read about the rumors that Fed Chair Powell will not likely address.
The Trump administration has seized on the Federal Reserve’s renovation of its building in what legal experts say could be pretext to fire Jerome H. Powell, the central bank chair.
Donald Trump has repeatedly criticized Jerome Powell for not cutting interest rates, and he escalated his attacks on the Fed chair last week.
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US Treasury Secretary Scott Bessent weighed in on the latest Fed drama, pointing to the "fear-mongering" around tariffs and the potential for higher inflation.
"It doesn't occur to me in the slightest that there would be any situation in which I would not complete my term other than dying," Powell said in 2019.