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

President Trump's pressure on lowered interest rates could send markets into a tailspin and destabilize the economy, according to researchers and economists.

Mohamed El-Erian and Jeremy Siegel think Jerome Powell's resignation would ultimately bolster the independence of the central bank.

Federal Reserve Chair Jerome Powell has asked the U.S. central bank's inspector general to review the costs involved in the renovation of its historic headquarters in Washington, as Trump administration officials intensify their criticism of how the Fed is being run.

Treasury Secretary Scott Bessent is taking aim at both the Federal Reserve and the rules the Fed enforces as a supervisor of big banks. But he made it clear he doesn't think Fed Chair Jerome Powell needs to step down immediately.

Treasury Secretary Scott Bessent suggested on Monday that the government could open an investigation into the Federal Reserve, which has drawn President Donald Trump’s wrath for refusing to lower interest rates.

Changing the way the Federal Reserve operates or assesses the economy may have a more durable impact on policy and markets than firing the Fed boss.

The Fed has held its benchmark interest rate between 4.25% and 4.5% this year, though officials have penciled in two cuts by year-end.

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.

On July 29-30, the Federal Open Market Committee will announce its interest rate policy. Read about the rumors that Fed Chair Powell will not likely address.