URGENT UPDATE: Treasury Secretary Scott Bessent has publicly condemned “leakers” following a Wall Street Journal report claiming he attempted to dissuade President Trump from firing Federal Reserve Chair Jerome Powell. This revelation surfaced just days after the President vehemently denounced the article during a public statement on Sunday.
In an appearance on CNBC on Monday, Bessent responded to questions regarding the validity of the Journal’s claims, emphasizing the importance of maintaining confidentiality within government operations. “This is just another example of how leaks can undermine our work,” he stated, highlighting the negative impact on fiscal policy and economic stability.
The Wall Street Journal article, released on October 29, 2023, suggested that Bessent actively sought to prevent Trump from making a significant change at the Federal Reserve, a move that could have far-reaching consequences for monetary policy. The report has ignited discussions about the ongoing tensions between the White House and the Federal Reserve, raising concerns among investors and economists alike.
This incident comes at a critical time, as markets remain sensitive to changes in Federal Reserve leadership amid ongoing economic recovery efforts. With inflation rates on the rise and interest rate decisions looming, Bessent’s comments underscore the high stakes involved in U.S. economic policy.
As this story develops, all eyes will be on the White House and the Federal Reserve. Observers are eager to see how this public friction may influence Trump’s future decisions regarding Powell and the central bank’s direction.
Stay tuned for further updates on this evolving situation, as the implications could reshape economic policy discussions in the coming days.
