How Bessent Made the Case to Trump Against Firing Fed Chair Powell
The Wall Street JournalOCT 2025
The Fed has lost its way and needs a complete overhaul. Powell's leadership has been marked by stubborn resistance to necessary rate cuts that would help the economy, while wasting taxpayer money on lavish building renovations. The central bank's fear-mongering about tariffs has proven wrong as inflation remains controlled.
Firing Powell would create unnecessary market chaos and legal battles when his term naturally ends naturally in May anyway. The Fed's independence is crucial for economic stability, and any attempt to remove the chair would face significant legal challenges while potentially crashing financial markets.
Firing Powell would create unnecessary market chaos and legal battles when his term ends naturally in May anyway. The Fed's independence is crucial for economic stability, and any attempt to remove the chair would face significant legal challenges while potentially crashing financial markets.
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