Federal Reserve Chairman Powell speaks at a press conference after the Federal Open Market Committee meeting in Washington on November 7, 2024.
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Hedge fund tycoon and President-elect Scott Bessent said Federal Reserve Chairman Jerome Powell can complete his term leading the U.S. central bank, despite previous suggestions that he may be forced to step down. Pick Minister of Finance.
“As the president said on Sunday, and I completely agree with him, Jay Powell will serve out his term,” Bessant told CNBC after meeting with Idaho Sen. Mike Crapo on Tuesday.
Bessant’s comments come amid growing speculation about Powell’s fate following Trump’s victory in the presidential race last month. Although Trump already has Tensions The incoming president told NBC News over the weekend that he and Powell Probably not Attempt to remove the Fed Chairman.
Trump told NBC News that Powell could step down if “informed,” but not if “asked.” However, the president-elect said he has no current plans to do so.
Bessent’s announcement marks a shift for the Key Square Group founder, who has previously “Shadow” chair Manage the Federal Reserve.
Powell’s term as chairman will end in May 2026. chose him Leading the central bank, a role Powell held in 2018. reappointment He will be re-elected for another four-year term in 2022.
Powell has explain He does not believe Trump can legally remove him from office and would not step down if asked.
