“Bessent is trying to show Trump there is a path to get what he wants without unnecessary market turmoil,” said Stephen Myrow, managing partner at Beacon Policy Advisors. That path would involve allowing Powell to finish out his term as chair and stepping down from the Federal Reserve board once his chairmanship is up.

Lawrence Summers backed Treasury Secretary Scott Bessent’s questioning of the Federal Reserve’s non-monetary policy activities, saying that there were some areas that are distinct from the broader issue of central bank independence.

US Treasury Secretary Scott Bessent weighed in on the latest Fed drama, pointing to the "fear-mongering" around tariffs and the potential for higher inflation.

The Trump administration pressure campaign on the Federal Reserve is heating up, with Treasury Secretary Bessent calling for a review of the entire central bank. Ernie Tedeschi and Justin Wolfers discuss on The Eleventh Hour.

Good morning. The US Treasury secretary calls for a review of the Federal Reserve’s renovation of its headquarters. The Bank of England is said to be considering shelving plans for a digital pound. And Victoria Beckham’s fashion company is on the road to profitability.

U.S. Treasury Secretary Scott Bessent on Monday called on the Federal Reserve to conduct an exhaustive review of its non-monetary policy operations to ensure that "mission creep" does not jeopardize the independence of its core monetary policy mission.