Treasury Secretary Bescent responds to Trump asking for feeding committee chairman Powell to step down.
Treasury Secretary Scott Bessent will discuss US debt management, inflation expectations, the fate of Federal Reserve Chairman Jerome Powell, and deregulation in an interview with “Morning with Maria.”
President Donald Trump’s Treasury Secretary has revealed what will be next for the soon-to-open role as more and more pressure on Federal Reserve Chairman Jerome Powell to leave the post.
When asked Thursday if Powell should resign, Secretary Scott Bescent replied that the administration had concluded that it would “try to get waste, fraud and abuse from the system.”
“So, is it healthy for the Fed to consolidate the federal government like everyone else, and keep spending down at this right sized time?” In “Morning with Mary.”
National Debt Tracker: American Taxpayer (you) is on the hook at 36,214,482,241,911.14 as of 2/25/7
“Want to see him resign?” Baltiromo asked for an explanation.
Treasury Secretary Scott Bescent said, “The president goes where I think I’m most suited.” (Getty Images)
“The Fed wants to see their budgets in the right size,” replied Bescent.
The president appears in the latest escalation of the feud between Trump and Powell Powell asks to resign After the head of the Federal Housing and Finance Agency (FHFA) alleged that Powell had given “deceitful” testimony to Congress.
Trump has been expressing his dissatisfaction with Powell for months over his refusal to lower Fed interest rates.
Treasury Secretary Scott Bescent has placed emphasis on “morning with Maria,” including the “big beautiful bill” expected to pass in the House, job creation in the United States and President Donald Trump’s mutual tariffs.
On Monday, Trump sent a note to Powell, highlighting how other countries around the world have lower interest rates compared to the US, and highlighting that Powell continues to maintain “artificially high.” Trump then revealed on Wednesday that Powell should “resign immediately,” following a social account of his truth.
According to the Wall Street Journal, Bessent’s name is reportedly floating as a potential chair pick for the Fed chair, but he carefully toeed his toes on the answers as to whether he was considering a switch.
“We have a lot of great candidates for the Federal Reserve. I think we do our best job in Washington. We can interact with the president. The cabinet he chose is amazing. Being part of that cabinet is a lifelong dream for me.
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White House spokesman Caroline Leavitt said Monday during a press conference that President Donald Trump had sent a letter to Chairman Jerome Powell, who shows low interest rates in other countries.
“I’m not going to reveal any private conversations, but I’ll tell you, there are a lot of good, strong candidates, and we’ll do well if we can fill in two seats next year.”
Other public figures currently running for the Fed’s top spot include former Fed Governor Kevin Wersch and the National Economic Council Director Kevin Hassettformer World Bank President David Malpass and federal government Christopher Waller.
Peter Pinedo of Fox Business contributed to this report.