U.S. Federal Reserve Chair Jerome Powell is a "numbskull" who has kept interest rates too high, but he will be out in eight months, President Donald Trump said at a news conference on Tuesday.

Treasury Secretary Scott Bessent offered support for Jerome Powell amid regular attacks from Trump administration officials, saying he sees no reason for the Federal Reserve chair to step down.

U.S. Treasury Secretary Scott Bessent on Wednesday told Bloomberg TV in an interview that the Trump administration was not in a rush to nominate a new Federal Reserve Chair to replace Jerome Powell. Bessent said he continues to have regular meetings with Powell and that Powell had not told him whether he would leave his board seat.

Erian on Tuesday called for Federal Reserve Chair Jerome Powell to voluntarily relinquish his position to ensure the central bank's independence. He's one of the first prominent economic voices to publicly take such a position.

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.

Federal Reserve Chair Jerome Powell is facing pressure from all sides as the Fed’s banking regulation conference kicks off this week. President Trump has been threatening to fire Powell while

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

Republican U.S. Representative Anna Paulina Luna made good on her threat last week to refer Federal Reserve Chairman Jerome Powell to the Justice Department, Fox News reported on Monday, amid U.S. President Donald Trump's ongoing complaints about the Fed chair.