Treasury Secretary Scott Bessent told the president privately in recent days that ousting Jerome Powell entailed risks, including possible effects on the economy and potential legal and political obstacles.

Jerome Powell has long been a target of President Donald Trump, who has repeatedly criticized the Fed chair for not cutting interest rates.

Trump told reporters last week that he had talks with Congress members of removing the Central Bank Chair, during which he claimed that most of them agreed to his view. Though he added that “We’re not