New Delhi, July 23 -- Amid escalating tensions between the White House and Federal Reserve Chair Jerome Powell, Treasury Secretary Scott Bessent has voiced his support for the central banker.

"There's nothing that tells me that he should step down right now. He's been a good public servant," Bessent said during an interview with Fox Business on Tuesday (July 22). "His term ends in May. If he wants to see that through, I think he should."

However, Bessent added that if Powell chooses to step down early, "I think he should, but I think there's a real chance here for him, for his legacy - that he right-sized the non-monetary policy functions of the Fed."

President Donald Trump has repeatedly criticised Powell for maintaining high interest...