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Trump vs Powell: Scott Bessent softens tone; suggests Fed chief 'shouldn’t step down right now’
US Treasury Secretary Scott Bessent stated that Federal Reserve Chair Jerome Powell need not resign. This statement comes after Bessent called for a review of the Fed's operations. Bessent believes Powell should complete his term, ending in May 2026. His comments follow pressure from President Donald Trump's administration to lower interest rates. Michelle Bowman defended the Fed's independence.
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