"Fed Whisperer": Bessent Continues to Publicly Criticize Powell, Aiming to Ensure His Departure from the Fed in May

BlockBeats News, January 21, Nick Timiraos, a Wall Street Journal reporter known as the "Fed mouthpiece," posted that Bessent has recently continued to publicly criticize current Federal Reserve Chairman Jerome Powell. In an interview with CNBC yesterday, Bessent stated that Powell should not attend Wednesday's oral arguments in the Federal Reserve Board member Lisa Cook's case, as he believes Powell will attempt to "favor" the Fed.

Nick Timiraos hinted that before Bessent publicly criticized Powell, the Department of Justice had launched an investigation into the Federal Reserve, which made Bessent uneasy. Bessent is concerned that this investigation could complicate the Trump administration's efforts to confirm Powell's successor. In addition, Bessent also needs to ensure that Powell resigns from his board position after his term as Fed Chairman ends in May.