There have been no indications from Powell that he plans to step down despite a barrage of criticism from the Trump administration.

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

President Donald Trump on Sunday disputed a Wall Street Journal story alleging that Treasury Secretary Scott Bessent urged him to avoid firing Federal Reserve Chair Jerome Powell partly over concerns about the impact of his potential removal on the U.S. economy, declaring that he knows “better than anybody what’s good for the Market.”

Treasury Secretary Scott Bessent blasted former Treasury Secretary Janet Yellen in response to her criticizing the Trump administration’s economic and

US Treasury Secretary Scott Bessent on Monday called for deeper reforms of what he called an antiquated financial regulatory system and says regulators should consider scrapping a "flawed" Biden-era proposal for a dual capital requirement structure for banks.

US Treasury Secretary Scott Bessent stated that Federal Reserve Chair Jerome Powell need not resign. This statement comes after Bessent called for a r

U.S. Fed Chair Jerome Powell spoke of a need to maintain a "safe, sound and efficient" U.S. banking system while Treasury Secretary Scott Bessent called Powell "good public servant" suggesting he finish his term.

Lawrence Summers backed Treasury Secretary Scott Bessent’s questioning of the Federal Reserve’s non-monetary policy activities, saying that there were some areas that are distinct from the broader issue of central bank independence.