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Anonymous ID: 2ce877 July 22, 2025, 7:08 a.m. No.23362381   🗄️.is 🔗kun   >>2396

https://finance.yahoo.com/news/bessent-calls-for-internal-review-of-fed-but-doesnt-think-powell-needs-to-step-down-110437454.html

Treasury Secretary Scott Bessent is taking aim at both the Federal Reserve and the rules the Fed enforces as a supervisor of big banks but making it clear he doesn't think Fed chair Jerome Powell needs to step down immediately.

 

His boss President Trump has been calling repeatedly for Powell's resignation.

 

“There’s nothing that tells me that he should step down right now,” Bessent said on Fox Business Tuesday. "His term ends in May. If he wants to see that through, I think he should. If he wants to leave early, I think he should.”

 

Yet the Treasury secretary still turned up the pressure on Powell and the Fed with a post Monday on X stating that there should be a review of the central bank’s $2.5 billion renovation of its headquarters and a review of its non-monetary policy operations.

 

He argued that “significant mission creep and institutional growth have taken the Fed into areas that potentially jeopardize the independence of its core monetary policy mission.”