US Treasury Secretary Scott Bessent is said to be “concerned and uncomfortable” about the investigation against Fed Chairman Powell. He is said to fear that the incident could destabilize financial markets.
The tense relationship between US President Donald Trump and Federal Reserve Chairman Jerome Powell has created a rift within the cabinet.
It is said that US Treasury Secretary Scott Bessent is very worried by the investigation against Fed Chairman Powell.
The crisis that destabilized markets began with the opening of an investigation into Powell's statements regarding the Fed's building renovation project. Against this move by the Trump administration, Finance Minister Bessent, from his own cabinet, conveyed his discomfort to his circle.
It was reported that Bessent, who reportedly described the Justice Department investigation as “provocative,” was confused and upset. It is said that he is particularly afraid that this incident could destabilize financial markets. According to American sources, Finance Minister Bessent conveyed his discomfort to US President Trump.
WHAT HAPPENED?
An investigation has been opened against Fed Chairman Jerome Powell, who has never made peace with the Trump administration due to his statements about the Fed building renovation project. Powell talked about this investigation, saying that Trump was an “excuse” to pressure the central bank to lower interest rates. Powell testified that he was threatened with criminal charges and received a grand jury subpoena to testify before Congress last summer about a Federal Reserve building renovation project.
