Treasury Secretary Scott Bessent privately urged President Donald Trump over the last week not to fire Federal Reserve Chairman Jerome Powell, according to a report.
A Wall Street Journal report on Saturday detailed Bessent’s concerns in talks with the president over a possible ousting of the Fed chairman, a move that Trump was reportedly considering this week until he later signaled it was unlikely he would do so.
Those concerns voiced to Trump by Bessent were the negative effects a removal would have on the economy and markets, the possibility that the Fed moves to cut interest rates later in the year, and the likely legal backlash the move, which has never been done by a sitting president, would face, the report said, citing people familiar
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