Treasury Secretary Scott Bessent in recent days privately laid out his case to President Trump for why he believed Trump shouldn’t try to oust Federal Reserve Chair Jerome Powell, people familiar with the matter said.

President Trump has seized on the Federal Reserve’s multibillion-dollar makeover as a possible avenue for finally ousting its politically independent chair, Jerome Powell. Trump has for months criticized Powell over the Fed’s refusal to cut interest rates,

President Donald Trump has opened up a new front in his attack on the Federal Reserve and its chair, Jerome Powell: He says the alledged mismanagement of a building renovation project could be grounds for firing Powell.