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Bessent says Powell doesn't need to resign but should conduct internal review
There have been no indications from Powell that he plans to step down despite a barrage of criticism from the Trump administration.
Bessent Says Powell Should Finish Out Term if He Wants
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,
U.S. Treasury chief: No need for Fed’s Powell to step down right now
There is no need for U.S. Federal Reserve Chair Jerome Powell to immediately step down, Treasury Secretary Scott Bessent said on Tuesday, adding that the Fed chief’s legacy should be to right-size the central bank’s non-monetary policy functions.
Powell under siege as Fed conference kicks off
Federal Reserve Chair Jerome Powell is facing pressure from all sides as the Fed’s banking regulation conference kicks off this week. President Trump has been threatening to fire Powell while
Ahead of Jerome Powell's speech, treasury secretary Bessent calls for review of ‘entire’ Federal Reserve
Ahead of US Fed Chair Jerome Powell’s scheduled speech, Treasury Secretary Scott Bessent has called for a comprehensive review of the Federal Reserve. In an interview with CNBC, Bessent stated that there is a need to assess whether the Federal Reserve has been successful in fulfilling its mandate.
Top economist Mohamed El-Erian breaks ranks with Wall Street and says Powell should resign to preserve Fed independence
El-Erian, president of Queens’ College at Cambridge University, said he was aware that his view did not align with the Wall Street consensus.
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.
Treasury Secretary Bessent bashes Fed 'fear mongering' over tariffs and says central bank should be reviewed
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.
Scott Bessent confirms moves to replace Jerome Powell are under way: ‘There’s a formal process that’s already starting’
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."
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