Donald Trump

Chair

Reserve

According to the latest information, US Treasury Secretary Scott Bessent warned Donald Trump Sunday night that the federal investigation launched against Federal Reserve Chairman Jerome Powell poses risks to financial markets.
According to two sources familiar with the meeting, Bessent said the investigation “created a great deal of confusion” and could have negative effects on markets.
Bessent’s concerns were reflected in the markets on Monday. The dollar fell, while bond yields and gold prices rose. This market movement is said to stem from concerns about political interference in the Fed. A source speaking to Axios said, “The Secretary is unhappy and has made that clear to the chairman.”
On Sunday night, Trump tried to distance himself from the investigation launched against Powell for allegedly making false statements about the cost of renovating the Federal Reserve building in Washington. The investigation was reportedly initiated by the office of Washington D.C. Attorney Jeanine Pirro without prior notification to the Treasury Department, senior White House officials, or the top echelons of the Justice Department. Sources noted that this investigation was “unprecedented.”
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In a rare video message released Sunday night, Powell denied the accusations and accused the Trump administration of “politicizing” the Justice Department for not implementing interest rate cuts at the pace the president wanted. Powell stated, “We face the threat of criminal charges because we set interest rates in the public interest.” Meanwhile, Thom Tillis, a key member of the Senate Banking Committee, announced he would block the nomination process to replace Powell due to the investigation.
According to sources, Bessent’s concerns aren’t solely about the markets. Powell’s term ends in May, and the administration had hoped he would leave sooner after Trump announced his nominee for Fed chairman. However, the investigation has reportedly eliminated that possibility. One source stated, “Bessent thought Powell would leave when the new chairman was announced. That’s not going to happen anymore; Powell is cornered, and that has made things even more complicated.”
A Treasury Department spokesperson told Axios, “There is no disagreement between Secretary Bessent and President Trump. The sources in the report do not represent the Secretary.” The sources also said that Bessent did not question the necessity of the investigation and did not defend Powell during her meeting with Trump.
On the other hand, senior administration officials believe the idea of an investigation may have been spurred on by Federal Housing Finance Agency Director Bill Pulte. Pulte, however, denied this in a statement to Bloomberg Television, saying the matter was outside his jurisdiction. It was recalled that Pulte had previously pushed for criminal proceedings against certain individuals, but these efforts were unsuccessful.
In an interview with NBC News, Trump said he was “unaware” of the subpoenas issued and also criticized Powell, saying, “He’s not very good at the Fed, he’s not good at building buildings either.” These statements suggest that Trump will not drop the investigation, while also showing respect for Bessent’s position.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/there-are-rumors-of-argument-between-donald-trump-and-us-treasury-secretary-regarding-fed-chair-powe/" rel="noopener noreferrer nofollow">There Are Rumors Of Argument Between Donald Trump And US Treasury Secretary Regarding FED Chair Powell – Here are the Details</a>

There Are Rumors Of Argument Between Donald Trump And US Treasury Secretary Regarding FED Chair Powell – Here are the Details

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