Bessent: Powell can serve out remainder of term as Fed chair ...Middle East

Scott Bessent, President-elect Trump’s pick to lead the Treasury Department, said Tuesday that Federal Reserve Chair Jerome Powell can serve out the remainder of his term leading the central bank. “As the President said on Sunday, and I’m in complete agreement with him, that Jay Powell will serve out his term,” Bessent told CNBC. His comments come after Trump said on NBC’s “Meet the Press” over the weekend that he would not seek to fire Powell when he takes office next year. The Fed chair, whose term ends in 2026, said last month that he would not resign if asked to do so by Trump, noting that the president is “not permitted under the law” to fire or demote him or oth

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Bessent: Powell can serve out remainder of term as Fed chair ...Middle East

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