Trump Considers Replacing Fed Chair Powell with Treasury Secretary Bessent

President TRUMP is reportedly preparing to replace Federal Reserve Chair Jerome Powell with Treasury Secretary Scott Bessent when Powell''s term expires in May 2026. The move comes amid escalating tensions between Trump and Powell over interest rate policies, with the President accusing the Fed of sabotaging his economic agenda.

Trump has repeatedly threatened to oust Powell before his term ends, despite potential disruptions to U.S. fiscal policy. The situation mirrors recent delays in confirming financial regulators, including SEC Chair Paul Atkins, suggesting the administration may be laying groundwork for a swift transition.

The Federal Reserve''s independence faces unprecedented pressure as Trump publicly criticizes its decision to maintain rates while European central banks have implemented multiple cuts. This political standoff introduces new uncertainty into financial markets during a period of global economic recalibration.