Besent advises the U.S. President not to fire Federal Reserve Chair Powell!
U.S. Treasury Secretary Besent is trying to persuade the U.S. President not to fire Federal Reserve Chair Jerome Powell, as Powell's resignation could have a negative impact on the U.S. economy and markets.
Additionally, Besent does not rule out the possibility that the Federal Reserve may lower its benchmark interest rate after 2025. Besent warned the President that he would face political and legal obstacles in removing Powell, and that firing Powell is unnecessary because the U.S. economic situation is good.
The U.S. President may not fire the Federal Reserve Chair, but will choose and announce his successor this summer.
Original text: https://www.toutiao.com/article/1838109252866060/
Statement: The article represents the personal views of the author.