Fed Chair Jerome Powell’s Time Is Ticking – Treasury Boss Says It’s Time to Step Aside
Tensions between President Donald TRUMP and Federal Reserve Chair Jerome Powell have escalated amid rising inflation concerns. Trump has repeatedly criticized Powell for maintaining high interest rates, accusing him of stifling economic growth. Treasury Secretary Scott Bessent has now publicly urged Powell to step down completely when his term ends in May 2026, warning that any lingering presence on the Fed’s board could unsettle markets.
Speculation swirls around Trump’s potential appointment of a "shadow chair" to influence monetary policy behind the scenes. The search for Powell’s successor is underway, with Bessent emphasizing the administration’s commitment to a smooth transition. Multiple candidates, both internal and external, are under consideration.
