In the battle over the future of Federal Reserve Chair Jerome Powell, Treasury Secretary Scott Bessent appears to be focused on the long game. In an interview with Fox Business News on Tuesday, Bessent said he was not pushing Powell to leave his post.

Lawrence Summers backed Treasury Secretary Scott Bessent’s questioning of the Federal Reserve’s non-monetary policy activities, saying that there were some areas that are distinct from the broader issue of central bank independence.

Treasury Department Secretary Scott Bessent defended the monetary independence of the Federal Reserve after getting caught in the crossfire between President Trump and The Wall Street Journal. Bessent said in a social media post Monday evening that Fed “independence is a cornerstone of continued U.