Finance Minister Scott Bessent, in an interview with Bloomberg, emphasized that one should not focus too much on a single CPI report; the overall inflation trend is what matters, and currently, inflation is not accelerating. He noted that President Trump has no intention of firing Fed Chairman Jerome Powell but criticized the Fed for past incorrect forecasts and suggested they may still be mistaken. The process of selecting Powell's successor has begun, with many qualified candidates both within and outside the Fed, and the timing of the appointment will depend on President Trump's decision.
