There have been no indications from Powell that he plans to step down despite a barrage of criticism from the Trump administration.

Treasury Secretary Scott Bessent is taking aim at the Federal Reserve and the rules the Fed enforces as a supervisor of big banks. But he doesn't think Fed Chair Jerome Powell should step down immediately.

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.