U.S. Treasury Secretary Bessent recently privately advised Trump not to remove Federal Reserve Chairman Powell, citing reasons including: a good economy, the possibility of the Federal Reserve cutting interest rates this year, and the risk of political and legal risks from the removal. Bessent pointed out that Powell's term expires in May next year, at which time a replacement can be made. His moderate stance contrasts with the more radical attitudes of some officials. Trump called Bessent "reassuring." [Wall Street Journal]
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