Bessent Warns WH: Firing Fed Chair Will Spark Chaos

Politico reports:

Treasury Secretary Scott Bessent has repeatedly cautioned White House officials that any attempt to fire Federal Reserve Chair Jerome Powell would risk destabilizing financial markets.

Bessent’s private message reinforces what President Donald Trump already knows but comes as the president’s anger with the Fed chair is growing because Powell hasn’t shown signs that he will cut interest rates soon. It also comes against the backdrop of widespread market turmoil over the administration’s far-reaching trade war.

Trump’s fury with Powell burst into public view on Thursday morning, when he said in a Thursday morning post on Truth Social that his “termination cannot come fast enough!”

Read the full article.

🚨 SCOOP: Bessent has been privately underscoring that axing Powell would feed instability in markets, sources say — and Trump is also aware of the stakes.

That means that though Trump is mad (again) at Powell — his job looks safe for now.

w/ @vtg2 https://t.co/c2WkKDaKvk

— Megan Messerly (@meganmesserly) April 17, 2025