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

On July 29-30, the Federal Open Market Committee will announce its interest rate policy. Read about the rumors that Fed Chair Powell will not likely address.

Donald Trump is reportedly fuming over a Wall Street Journal report claiming Treasury Secretary Scott Bessent talked him out of firing Fed Chair Jerome Powell. While Trump dismissed the account, CNBC’s Andrew Ross Sorkin says a new strategy may be emerging: naming a “shadow Fed chair” ahead of Powell’s term ending in May.

HUD Secretary Scott Turner criticizes Fed Chair Jerome Powell for spending billions on renovations while Americans struggle with high mortgage rates amid a housing crisis.

President Trump has seized on the Federal Reserve’s multibillion-dollar makeover as a possible avenue for finally ousting its politically independent chair, Jerome Powell. Trump has for months criticized Powell over the Fed’s refusal to cut interest rates,

Trump has criticized Powell for months because the chair has kept the short-term interest rate the Fed controls at 4.3% this year, after cutting it three times last year. Powell says the Fed wants to see how the economy responds to Trump’s sweeping tariffs on imports, which Powell says could push up inflation.

Four potential Powell replacements have been shortlisted by the betting market. Here's who's in the running to be the next Fed Chair.

While Trump may be denying reports he will fire Powell, reports tell a different story. Here's what Tennesseans need to know about Powell and the Fed.

"What we need to do is examine the entire Federal Reserve institution and whether they have been successful," Bessent told CNBC's Squawk Box.