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Bessent advises Trump against firing Fed Chair Powell

Bessent advises Trump against firing Powell, citing economic stability and potential legal hurdles amidst rising tensions over Fed policies

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Bessent advises Trump against firing Powell, citing economic stability and potential legal hurdles amidst rising tensions over Fed policies

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In Short:
– Treasury Secretary Bessent advised Trump not to remove Fed Chair Powell due to economic stability and potential interest rate cuts.
– Bessent warned of disruptions and legal issues if Trump attempts to fire Powell, stressing the importance of Fed independence.
Treasury Secretary Scott Bessent has advised President Trump against attempting to remove Federal Reserve Chair Jerome Powell.
According to The Wall Street Journal, Bessent’s rationale includes the stable economy, positive market responses to Trump’s policies, and the Fed’s potential plans to cut interest rates later this year.Bessent argued that ousting Powell could lead to unnecessary disruptions and warned of the legal challenges that might arise from such a decision.

Reports of Trump’s consideration to fire Powell have surfaced again, amidst his repeated criticism of the Fed. Some financial experts believe this could undermine the central bank’s independence.

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Future Impact

Bessent also highlighted that even without a court challenge, Trump’s attempt to remove Powell could create a leadership vacuum if the Senate doesn’t confirm a replacement quickly.

Current law allows the Fed’s vice chair to step in, but there may be complications if the president’s actions frustrate GOP senators.

Bessent suggested that Trump already has opportunities to influence the Fed, noting upcoming vacancies that can be filled early next year. The White House has indicated that Trump will select a candidate to enhance the Fed’s effectiveness.


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Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Markets brace for pivotal week following renewed US-China trade talks

Global markets brace for US-China trade talks, earnings, and inflation data impacting investor sentiment and central bank outlook.

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Global markets brace for US-China trade talks, earnings, and inflation data impacting investor sentiment and central bank outlook.


Global markets prepare for a critical week as US–China trade talks, major earnings, and inflation data could shift investor sentiment and central bank expectations.

Kyle Rodda from Capital.com breaks down the key risks and opportunities.

#GlobalMarkets #USChinaTrade #Inflation #EarningsSeason #Investing #FederalReserve #AUD #Tesla #Netflix #MarketUpdate


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Global markets steady ahead of CPI

Global equities stay strong near record highs as investors await US CPI data to assess central bank decisions.

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Global equities stay strong near record highs as investors await US CPI data to assess central bank decisions.


Global equities remain resilient, with Wall Street, Europe, and Asia near record highs as investors eye Friday’s US CPI data to gauge central bank moves.

Market watchers note cautious optimism amid ongoing volatility.

#GlobalMarkets #CPI #WallStreet #Equities #Investing #CentralBanks #RBA #Fed #USMarkets #MarketUpdate


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US sanctions Russia’s top oil giants

US sanctions on Rosneft and Lukoil aim to pressure Moscow amid oil price surges; impact depends on enforcement.

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US sanctions on Rosneft and Lukoil aim to pressure Moscow amid oil price surges; impact depends on enforcement.


The US has imposed new sanctions on Rosneft and Lukoil, aligning with Europe to pressure Moscow amid rising oil prices and global market tensions.

Analysts warn the real impact will hinge on enforcement and international response.

#Russia #USSanctions #Rosneft #Lukoil #OilMarkets #Geopolitics #EnergyCrisis #DonaldTrump #EU #GlobalTrade #Moscow


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