Washington, July 23 -- US Treasury Secretary Scott Bessent said today that he did not see any reason for Fed chairman Jerome Powell to step down immediately.
The statement comes from Bessent just a day after he ordered a complete internal review of Fed's operations.
Speaking to Fox Business, Bessent said "There's nothing that tells me that he should step right now. His official term ends in May 2026 and he should be allowed to complete it until he chooses to leave the post early."
Previously, Scott Bessent called for an "exhaustive internal review" of Federal Reserve non-monetary operations. He also pointed out the importance of the bank's independence for economic stability and warned about the looming threats of "mandate creep."
Mand...