Scott Bessent Addresses Trump’s Comments on Federal Reserve Chair’s Future

U.S. Treasury Secretary Scott Bessent clarified that he takes no position on President Trump's authority to remove Federal Reserve Chair Jerome Powell. Bessent suggested that Trump's remarks on Powell's 'termination' might simply refer to the end of Powell's term in May 2026.

U.S. Treasury Secretary Scott Bessent publicly stated on Wednesday that he takes no definitive stance on President Donald Trump's legal ability to dismiss Federal Reserve Chair Jerome Powell. Bessent hinted that Trump's recent commentary regarding Powell's 'termination' could relate to the expiration of Powell's term, scheduled for May 2026.

Speaking to journalists during the International Monetary Fund and World Bank spring meetings, Bessent expressed no surprise over Trump's ongoing critique of Powell. Historical tensions and criticisms directed at central bank leaders by sitting presidents are not unprecedented.

Despite Trump's statements, Bessent refrained from speculating on the intentions behind the President's remarks, focusing instead on constitutional and procedural protocols.

(With inputs from agencies.)