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flag US Treasury Secretary defends Fed Chair Jerome Powell amid pressure from Trump to resign.

flag US Treasury Secretary Scott Bessent says there's no need for Federal Reserve Chair Jerome Powell to resign, despite pressure from the Trump administration to lower interest rates. flag Bessent called for an internal review of the Fed’s non-policy operations. flag Meanwhile, former Fed chairs warn that Trump's pressure could lead to higher inflation and economic damage, urging the maintenance of the Fed's independence. flag If Trump tried to fire Powell, it could trigger a legal battle and market turmoil, lasting until Powell's term ends in May 2026.

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