Trump escalates fight with Fed Chair Powell
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The president also disclosed for the first time that Bessent has been advocating for Powell to remain as chair until his term expires in May.
An audience of tech bros laughed as Trump urged Bessent to “work on this guy” during the US-Saudi Investment Forum at the Kennedy Center – even threatening Bessent’s job.
Treasury Secretary Scott Bessent confirmed he’s not seeking the Federal Reserve chair role and praised President Trump after Saudi Arabia pledged nearly $1 trillion in new U.S. investments.
This marks the first time the president has disclosed that Bessent has pushed for Fed Chairman Jerome Powell not to lose his job.
Treasury Secretary Scott Bessent tried taking his flattery to new heights Tuesday—by pitching a demotion for President Donald Trump. Bessent, 63, told Bret Baier on Fox News’ Special Report that he was officially out of the running to replace Jerome Powell as Federal Reserve chair,
Treasury Secretary Scott Bessent tried taking his flattery to new heights Tuesday—by pitching a demotion for President Donald Trump. Bessent, 63, told Bret Baier on Fox News’ Special Report that he was officially out of the running to replace Jerome Powell as Federal Reserve chair, before floating Trump, 79, for the job.
Federal Reserve policymakers remain divided on December interest rate cuts as FOMC minutes revealed differing views on monetary policy amid inflation and labor market concerns.