The treasury secretary’s latest comments contrast with his earlier alleged role as peacemaker. The president, meanwhile, continued to rail against the Fed chief and the outlet that characterized Bessent as a cooler head prevailing.

Rep. Anna Paulina Luna (R-FL) referred Federal Reserve Chairman Jerome Powell to the Department of Justice last Saturday on charges of perjury and making false statements. President Donald Trump and Republicans have targeted Powell for not lowering interest rates and the central bank’s lavish spending on its new headquarters.

President Trump floated the idea of firing Jerome Powell — whom he first appointed Federal Reserve chair — earlier this week, after years of on-and-off criticism over interest rates.

Federal Reserve chair Jay Powell has rebutted the Trump administration’s accusations that he misled Congress over a $2.5bn refurbishment of the central bank’s headquarters, saying it did not inform government planners of changes to the project because they were not “substantial” enough to warrant it.

Federal Reserve Chair Jerome Powell has asked an inspector general to review the cost of the central bank's building renovations that White House officials have attacked as "ostentatious."

Federal Reserve Chair Jerome Powell has requested an internal review of the central bank's $2.5B headquarters revamp in the wake of high political scrutiny