Bessent allegedly cautions WH against firing Fed's Powell - Breaking The News

Bessent allegedly cautions WH against firing Fed's Powell

17 April

1 min read

EPA-EFE/WILL OLIVER

United States Treasury Secretary Scott Bessent is advising White House officials to take caution when considering firing Federal Reserve Chair Jerome Powell, claiming that the move could destabilize the financial markets, Politico reported on Thursday, citing two people close to the White House.

The report comes amid US President Donald Trump's criticism of Powell, with him claiming that the Fed chair is "always too late and wrong" and repeatedly urging him to cut interest rates. Trump also stated that Powell's termination "cannot come fast enough."

Meanwhile, US Senator Elizabeth Warren also warned earlier today that stock markets would "crash" if Trump removes Powell from his position.

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