According to BlockBeats, sources say that U.S. Treasury Secretary Basent suggested that Trump should not dismiss Federal Reserve Chairman Powell. Basent believes that dismissal could impact the economy and the market, and face political and legal obstacles.
Basent pointed out that the economy is performing well, and the market is responding positively to the president's policies. The Federal Reserve may cut interest rates twice before the end of the year. Dismissing Powell could lead to lawsuits, delaying until next spring when Powell's term ends.
Basent also mentioned that Governor Kuggler's term ends in January next year, and Powell's term ends in May, allowing Trump to fill the vacancies. Basent's cautious attitude contrasts with the aggressive strategies of other officials.
