WSJ: Bessant urged Trump not to remove Powell

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According to the Wall Street Journal, U.S. Treasury Secretary Mnuchin recently privately suggested to Trump that he should not dismiss Federal Reserve Chairman Powell, with reasons including: a good economy, potential interest rate cuts by the Fed this year, and the potential political and legal risks of dismissal. Mnuchin pointed out that Powell's term expires in May next year, at which point a replacement could be smoothly made. His moderate stance contrasts with some officials' more radical attitudes. Trump described Mnuchin as "reassuring".

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