Treasury Secretary Scott Bessent denied claims that President Trump will fire Federal Reserve chairman Jerome Powell. Trump has been critical of Powell for not lowering interest rates and affecting the economy, but Bessent stated that Trump repeatedly assured he would not take such action. Trump remarked on Powell's performance, suggesting he will leave soon, though he is not planning to fire him. Bessent clarified that while Trump may wish for a resignation, he maintains his stance on Powell finishing the term.
Treasury Secretary Scott Bessent denied that President Donald Trump will fire Federal Reserve chairman Jerome Powell, despite Trump's past criticisms and suggested changes.
President Trump has criticized Powell multiple times, accusing him of impeding economic efforts by refusing to lower interest rates, but he is unlikely to fire him.
Trump clarified he does not plan to fire Powell, stating he thinks Powell has done a bad job but expects Powell to be out "pretty soon anyway".
Bessent emphasized that Trump has repeatedly said he would not fire Powell, indicating a potential resignation preference but no imminent firing.
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