“Bessent is trying to show Trump there is a path to get what he wants without unnecessary market turmoil,” said Stephen Myrow, managing partner at Beacon Policy Advisors. That path would involve allowing Powell to finish out his term as chair and stepping down from the Federal Reserve board once his chairmanship is up.

Treasury Secretary Scott Bessent said Tuesday that embattled Federal Reserve Chair Jerome Powell should finish out his term if he wants. “If he wants to see that through, I think he should. If he wants to leave early,