Bessent says there's no reason for Fed chair to resign
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Bessent eyes government review of Federal Reserve
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Lawrence Summers backed Treasury Secretary Scott Bessent’s questioning of the Federal Reserve’s non-monetary policy activities, saying that there were some areas that are distinct from the broader issue of central bank independence.
There have been no indications from Powell that he plans to step down despite a barrage of criticism from the Trump administration.
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.
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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,
Changing the way the Federal Reserve operates or assesses the economy may have a more durable impact on policy and markets than firing the Fed boss.
Mohamed El-Erian and Jeremy Siegel think Jerome Powell's resignation would ultimately bolster the independence of the central bank.