President-elect Trump's pick for Treasury secretary, Scott Bessent, has said Federal Reserve Chair Jerome Powell will be allowed to finish his term.
Federal Reserve Chair Jerome Powell will serve out the remainder of his first term in charge of the U.S. Central Bank, according to President-elect Trump's pick for Treasury secretary. Hedge fund manager Scott Bessent told CNBC that he is "in complete agreement" with Trump "that Jay Powell will serve out his term." Bessent spoke to the outlet after meeting with Sen.
No, I don't think so," Trump told Welker after she asked whether he would fire the Federal Reserve chairman. "I don't see it. But I don't— I think if I told him to, he would. But if I asked him to, he probably wouldn't. But if I told him to, he would." Bessent, who is CEO for Key Square Group LP, has also voiced criticism of Powell, but unlike Trump, has argued Powell should have kept interest rates higher to stave off inflation.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fed Chair Jerome Powell can serve remainder of term, says Trump’s Treasury pick BessentTrump's pick for Treasury secretary said Powell could serve out his term.
Read more »
Treasury yields fall as investors endorse Trump's Treasury secretary pick, await inflation dataU.S. Treasury yields were lower on Monday as investors weighed President-elect Donald Trump's Treasury secretary pick, and awaited a key inflation reading.
Read more »
Elon Musk endorses Trump's transition co-chair Howard Lutnick for Treasury secretaryElon Musk posted on X his endorsement of the billionaire CEO of Cantor Fitzgerald on Saturday.
Read more »
Elon Musk endorses Trump's transition co-chair Howard Lutnick for Treasury secretaryElon Musk posted on X his endorsement of the billionaire CEO of Cantor Fitzgerald on Saturday.
Read more »
Trump might name Kevin Warsh as Treasury chief then Fed chair later, report saysA former Fed governor himself, Warsh would move over to the central bank after current Chair Jerome Powell’s term expires.
Read more »
Trump and Fed Chair Powell could be set on a collision course over interest ratesThough Powell became Fed chair in 2018, after Trump nominated him for the position, the two clashed often about the direction of interest rates.
Read more »