Trump Won’t Fire Fed Chair Powell, Says Treasury Chief
Treasury Secretary Bessent confirms Trump has no plans to fire Federal Reserve Chair Jerome Powell.
- Bessent denies rumors of Powell being fired by Trump.
- The statement calms speculation amid market uncertainty.
- Fed independence remains a key concern for investors.
Treasury Secretary Clears the Air on Powell Rumors
In a statement that calmed rising speculation, U.S. Treasury Secretary Bessent confirmed that President Donald Trump has no intention of firing Federal Reserve Chair Jerome Powell. The declaration came amid swirling rumors and market anxiety over the future of the central bank’s leadership.
The reassurance from the Treasury comes at a critical time as economic policy and interest rate decisions remain in the spotlight ahead of the upcoming election season.
Powell’s Position Remains Secure—for Now
Chairman Jerome Powell has been a frequent target of criticism from Trump in the past, especially regarding interest rate decisions. However, Bessent’s clear message aims to reinforce the Fed’s independence and reduce political noise.
Markets responded positively to the news, with many investors relieved that stability at the Fed is being preserved. The central bank’s autonomy is seen as essential for maintaining trust in U.S. monetary policy.
Political Stability Seen as Economic Signal
This latest move suggests the Trump administration may be opting for more predictable economic leadership in the months leading up to the election. Removing Powell could have triggered significant volatility across global markets.
Analysts now expect the Fed to continue its course without political interference—at least for the time being. The confirmation also strengthens Powell’s standing as the central figure in guiding U.S. economic policy amid inflation, interest rate changes, and global uncertainty.
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