“Bessent is trying to show Trump there is a path to get what he wants without unnecessary market turmoil,” said Stephen Myrow, managing partner at Beacon Policy Advisors. That path would involve allowing Powell to finish out his term as chair and stepping down from the Federal Reserve board once his chairmanship is up.

There have been no indications from Powell that he plans to step down despite a barrage of criticism from the Trump administration.

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U.S. Treasury Secretary Scott Bessent on Monday called for deeper reforms of what he called an antiquated financial regulatory system and said regulators should consider scrapping a "flawed," Biden-era proposal for a dual capital requirement structure for banks.

Treasury Secretary Scott Bessent blasted former Treasury Secretary Janet Yellen in response to her criticizing the Trump administration’s economic and

US-Finanzminister Scott Bessent fordert eine Überprüfung der Entscheidung, Teile der Zentrale der US-Notenbank in Washington zu renovieren. In einem Beitrag auf X schrieb er: “Auch wenn ich weder Kenntnis noch Meinung zur rechtlichen Grundlage der massiven Gebäuderenovierungen in der Constitution Avenue habe,

U.S. Treasury Secretary Scott Bessent said the Federal Reserve's vital independence on monetary policy is threatened by its "mandate creep" into non-policy areas and he called on the U.S. central bank to conduct an exhaustive review of those operations.

Asian equities delivered mixed performance overnight, as Vietnam outperformed on a trade deal, while Taiwan, South Korea, and Thailand all lagged amid the absence of new deals.

U.S. Treasury Secretary Scott Bessent said he would soon meet top Chinese officials to extend the two countries' trade truce. “China, that deal expires on Aug. 12 and I’m going to be in Stockholm on M