{"id":2464098,"date":"2025-07-19T18:36:02","date_gmt":"2025-07-19T22:36:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bessent-advised-trump-against-firing-powell-report-washington-examiner\/"},"modified":"2025-07-19T18:37:04","modified_gmt":"2025-07-19T22:37:04","slug":"bessent-advised-trump-against-firing-powell-report-washington-examiner","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bessent-advised-trump-against-firing-powell-report-washington-examiner\/","title":{"rendered":"Bessent advised Trump against firing Powell: Report &#8211; Washington Examiner"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbessent-advised-trump-against-firing-powell-report-washington-examiner%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2464098&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Treasury Secretary Scott Bessent reportedly advised President Donald Trump against firing Federal Reserve Chairman Jerome Powell. Bessent expressed concerns about the negative impact such a move could have on the economy and financial markets, the possibility that the fed might still <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/breitbart-business-daily-the-rumble-and-the-ruble-how-the-wests-sanctions-on-russia-strengthen-the-ruble-and-threaten-globalization\/\" title=\"Breitbart Business Daily: The Rumble and the Ruble\u2014How the West\u2019s Sanctions on Russia Strengthen the Ruble and Threaten Globalization\">cut interest rates<\/a> later in the year, and the significant legal challenges involved, as a sitting president has never removed a Fed chair before.Despite Trump&#8217;s frequent criticism of Powell, including calling him one of his &#8220;worst appointments&#8221; and blaming him for high interest rates harming the housing market, Powell has remained quiet and asserted that his removal would be illegal under the Federal Reserve Act of 1913, which allows removal only for cause. However, legal pressure may increase, as the White House has raised allegations of &#8220;gross mismanagement&#8221; over $2.5 billion renovation costs for Fed buildings, which Powell has defended while requesting an independent review.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">Bessent advised Trump against firing Powell: Report<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_2177053\" class=\"tpd-featured-video bridtv\"><\/div>\n<p>Treasury Secretary <a href=\"http:\/\/washingtonexaminer.com\/tag\/scott-bessent\" target=\"_blank\" rel=\"noopener\" title=\"\">Scott Bessent<\/a> privately urged President <a href=\"http:\/\/washingtonexaminer.com\/tag\/donald-trump\" target=\"_blank\" rel=\"noopener\" title=\"\">Donald Trump<\/a> over the last week not to fire Federal Reserve Chairman <a href=\"http:\/\/washingtonexaminer.com\/tag\/jerome-powell\" target=\"_blank\" rel=\"noopener\" title=\"\">Jerome Powell<\/a>, according to a report.<\/p>\n<p>A <em>Wall Street Journal<\/em> <a href=\"https:\/\/www.wsj.com\/economy\/central-banking\/trump-jerome-powell-fed-chair-defense-4165e69b?mod=hp_lead_pos1\" target=\"_blank\" rel=\"noopener\" title=\"report\">report<\/a> on Saturday detailed Bessent&rsquo;s concerns in talks with the president over a possible ousting of the Fed chairman, a move that Trump was <a href=\"https:\/\/www.washingtonexaminer.com\/policy\/finance-and-economy\/3472920\/trump-fire-powell-fed-chairman\/\" target=\"_blank\" rel=\"noopener\" title=\"reportedly\">reportedly<\/a> considering this week until he later signaled it was unlikely he would do so.<\/p>\n<div class=\"recommended-stories\">\n<h2>Recommended Stories<\/h2>\n<ul>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/policy\/finance-and-economy\/3476429\/chances-of-a-recession-shrink-significantly-per-polymarket\/\">Chances of a recession shrink significantly, per Polymarket<\/a><\/li>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/policy\/finance-and-economy\/3476049\/attempt-trump-fire-jerome-powell-major-legal-challenge\/\">An attempt by Trump to fire Powell would <a href=\"https:\/\/amzn.to\/3YuVZYV\" >face major legal challenge<\/a><\/a><\/li>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/policy\/finance-and-economy\/3475526\/trump-jerome-powell-worst-appointment-slams-biden\/\">Trump calls Powell &#8216;one of my worst appointments&#8217; and slams Biden for reappointing him<\/a><\/li>\n<\/ul>\n<\/div>\n<div class=\"article-paywall\">\n<p>Those concerns voiced to Trump by Bessent were the negative effects a removal would have on the economy and markets, the possibility that the Fed moves to cut interest rates later in the year, and the likely legal backlash the move, which has never been done by a sitting president, would face, the report said, citing people familiar with the discussions.<\/p>\n<p>Trump has repeatedly bashed Powell both in posts on Truth Social and in remarks to reporters throughout the year due to his frustration with the Fed opting to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/analysis-latin-america-after-record-tightening-could-lead-way-on-rate-cuts\/\" title=\"Latin America, having experienced significant tightening, may pave the way for rate cuts.\">hold rates steady<\/a> at all their meetings so far this year.<\/p>\n<p>In his most recent criticism of Powell, Trump <a href=\"https:\/\/www.washingtonexaminer.com\/policy\/finance-and-economy\/3475526\/trump-jerome-powell-worst-appointment-slams-biden\/\" target=\"_blank\" rel=\"noopener\" title=\"called\">called<\/a> him one of his &ldquo;worst appointments&rdquo; in a Friday Truth Social post that also claimed the Fed chairman was &ldquo;choking out the housing market with their high rate.&rdquo;<\/p>\n<p>&ldquo;The Fed Board has done nothing to stop this &lsquo;numbskull&rsquo; from hurting so many people. In many ways the Board is equally to blame!&rdquo; the president posted.<\/p>\n<p>Despite the constant attacks, Powell has remained quiet about the possibility he is removed from his position atop the Fed, while also maintaining that such a move by the president would not be legal.<\/p>\n<p>That assessment is <a href=\"https:\/\/www.washingtonexaminer.com\/policy\/finance-and-economy\/3476049\/attempt-trump-fire-jerome-powell-major-legal-challenge\/\" target=\"_blank\" rel=\"noopener\" title=\"backed up\">backed up<\/a> by the Federal Reserve Act of 1913, which states that a Fed chairman can only be removed for &ldquo;cause.&rdquo;<\/p>\n<p>A possible &ldquo;cause&rdquo; for removal could be coming, however.<\/p>\n<p><strong><a href=\"https:\/\/www.washingtonexaminer.com\/policy\/finance-and-economy\/3476049\/attempt-trump-fire-jerome-powell-major-legal-challenge\/\" target=\"_blank\" rel=\"noopener\" title=\"AN ATTEMPT BY TRUMP TO FIRE POWELL WOULD FACE MAJOR LEGAL CHALLENGE\">AN ATTEMPT BY TRUMP TO FIRE POWELL WOULD FACE MAJOR LEGAL CHALLENGE<\/a><\/strong><\/p>\n<p>Just last week, Office of Management and Budget Director Russ Vought <a href=\"https:\/\/x.com\/russvought\/status\/1943362774416883908\" target=\"_blank\" rel=\"noopener\" title=\"accused \">accused<\/a> Powell of &ldquo;grossly&rdquo; mismanaging the Fed after renovation costs for two of its buildings in Washington, D.C., have hit $2.5 billion, roughly $700 million over their initial cost. Vought later <a href=\"https:\/\/www.washingtonexaminer.com\/news\/white-house\/3474273\/white-house-moves-bolster-trump-case-jerome-powell-firing\/\" target=\"_blank\" rel=\"noopener\" title=\"suggested\">suggested<\/a> White House officials were looking to investigate the overruns.<\/p>\n<p>Powell recently <a href=\"https:\/\/www.washingtonexaminer.com\/news\/white-house\/3475162\/jerome-powell-letter-white-house-vought-federal-reserve-renovations\/\" target=\"_blank\" rel=\"noopener\" title=\"defended\">defended<\/a> the renovation costs, while also adding that he has asked for a &ldquo;fresh review&rdquo; of the project from the central bank&rsquo;s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/georgia-state-employee-fakes-pregnancy-for-paid-time-off-again-gets-busted-after-co-worker-sees-womb-fall-off-report\/\" title=\"Georgia State Employee Fakes Pregnancy For Paid Time Off \u2014 Again. Gets Busted After Co-Worker Sees \u2018Womb\u2019 Fall Off: Report\">independent inspector general<\/a>.<\/p>\n<\/div>\n<p> <script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script>!function(){var g=window;g.googletag=g.googletag||{},g.googletag.cmd=g.googletag.cmd||[],g.googletag.cmd.push(function(){g.googletag.pubads().setTargeting(\"has-featured-video\",\"true\")})}();<\/script><script>var _bp=_bp||[];_bp.push({\"div\":\"Brid_2177053\",\"obj\":{\"id\":\"27789\",\"width\":\"1280\",\"height\":\"720\",\"stickyDirection\":\"below\",\"video\":\"2177053\"}});<\/script><script defer src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bessent privately urged Trump not to fire Powell: report<\/p>\n","protected":false},"author":3359,"featured_media":2464099,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2025\/07\/bessent-trump-powell-firing.webp","fifu_image_alt":"","footnotes":""},"categories":[33651],"tags":[45545,4274,8975,3634],"class_list":["post-2464098","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-western-journal","tag-bessent","tag-firing","tag-powell","tag-trump"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2025\/07\/bessent-trump-powell-firing.webp","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2464098","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/3359"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2464098"}],"version-history":[{"count":3,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2464098\/revisions"}],"predecessor-version":[{"id":2464102,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2464098\/revisions\/2464102"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2464099"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2464098"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2464098"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2464098"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}