President Donald Trump on Sunday disputed a Wall Street Journal story alleging that Treasury Secretary Scott Bessent urged him to avoid firing Federal Reserve Chair Jerome Powell partly over concerns about the impact of his potential removal on the U.S. economy, declaring that he knows “better than anybody what’s good for the Market.”

U.S. Treasury Secretary Scott Bessent suggests an institutional review of the Federal Reserve amid President Trump's criticisms of Chair Jerome Powell over issues such as interest-rate decisions and budget overruns on a renovation.

Treasury Secretary Scott Bessent said Tuesday that a “formal process” to find a successor for Federal Reserve Chair Jerome Powell has already started — as the Trump administration ratchets up pressure for the top central banker to step aside before his term ends.

The Treasury secretary also stated his preference that Powell step down from the Fed entirely when his term ends. “Traditionally, the Fed chair also steps down as a governor."

Trump wants to replace Jerome Powell with a Fed chair who will do what he wants. But that still may not produce the steep cuts Wall Street is counting on.

Bill Pulte, the current head of the Federal Housing Finance Authority that runs mortgage giants Fannie Mae and Freddie Mac, has lately surfaced as a possible pick alongside Kevin Warsh and Kevin

President Donald Trump is once again intensifying his calls for interest rate cuts while lobbing insults at the source of his frustration, Fed Chairman Jerome Powell. Natasha Sarin discusses the potential impact of Trump firing Powell and the importance of keeping the Federal Reserve nonpartisan.