President Trump has backed off of his threats to fire Federal Reserve Chair Jerome Powell — for now. The president appeared to reach a breaking point with Powell last week when he told Republican

U.S. Fed Chair Jerome Powell spoke of a need to maintain a "safe, sound and efficient" U.S. banking system while Treasury Secretary Scott Bessent called Powell "good public servant" suggesting he finish his term.

“There’s a real chance here for him, for his legacy — that he right-size the non-monetary policy functions of the Fed,” Bessent said of Powell. The Treasury chief reiterated his view that, for monetary policy, “we should keep that off to the side — that should be kind of like in a jewel box.”

The US president’s broadsides against the Fed chair have prompted concern about the independence of the US central bank.

President Donald Trump has frequently voiced dissatisfaction with the Fed’s “wait-and-see" approach to lowering interest rates under Powell.

The C.E.O. of JPMorgan Chase, who has rarely taken on President Trump during his second term, wades into the argument over the Federal Reserve chair.

Federal Reserve Chairman Jerome Powell has won support from both Republicans and Democrats for reappointment by President Joe Biden because of his defense of the central bank's independence during ...

Jerome Powell’s term expires in February, but many expect him to keep his job. But if President Biden does seek change, ... Fed Chief Powell Enjoys Support for Reappointment, ...

U.S. Treasury Secretary Scott Bessent on Wednesday told Bloomberg TV in an interview that the Trump administration was not in a rush to nominate a new Federal Reserve Chair to replace Jerome Powell. Bessent said he continues to have regular meetings with Powell and that Powell had not told him whether he would leave his board seat.