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.

Treasury Secretary Scott Bessent privately urged President Donald Trump over the last week not to fire Federal Reserve Chairman Jerome Powell, according to a report. A Wall Street Journal report on Saturday detailed Bessent’s concerns in talks with the president over a possible ousting of the Fed chairman,