As President Donald Trump and his advisers begin weighing replacements for Federal Reserve Chair Jerome Powell, they’re running into one significant complication: It’s not clear that Powell will leave the US central bank next year.

If they want to make a mistake here and not cut, that’s fine,” Bessent told CNBC, insisting that tariffs imposed by Trump since taking office in January had not fueled inflation

Federal Reserve Chair Jerome Powell is sticking to his position that the central bank will keep its key rate on hold while it waits to see how President Donald Trump’s tariffs effect the economy, defying the steady stream of criticism from the White House,