There have been no indications from Powell that he plans to step down despite a barrage of criticism from the Trump administration.

U.S. Fed Chair Jerome Powell spoke of a need to maintain a "safe, sound and efficient" U.S. banking system while Treasury Secretary Scott Bessent called Powell "good public servant" suggesting he finish his term.

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The Treasury secretary also stated his preference that Powell step down from the Fed entirely when his term ends. “Traditionally, the Fed chair also steps down as a governor."

Treasury Secretary Scott Bessent said Tuesday that embattled Federal Reserve Chair Jerome Powell should finish out his term if he wants. “If he wants to see that through, I think he should. If he wants to leave early,

Ahead of US Fed Chair Jerome Powell’s scheduled speech, Treasury Secretary Scott Bessent has called for a comprehensive review of the Federal Reserve. In an interview with CNBC, Bessent stated that there is a need to assess whether the Federal Reserve has been successful in fulfilling its mandate.

Amid tensions with the White House, Treasury Secretary Scott Bessent backed Fed Chair Jerome Powell, saying there's no need for him to step down before his term ends in May. However, Bessent suggested Powell has a chance to cement his legacy by reforming the Fed’s non-monetary functions.

As traders wait to see how President Donald Trump’s visit to the Federal Reserve goes today, there’s a fresh indication of when he might unveil his pick to succeed Fed Chair Je