The President has repeatedly criticized Powell for not cutting interest rates, and he escalated his attacks on the Fed chair last week.

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.

Treasury Secretary Scott Bessent told the president that ousting Jerome Powell entailed risks, including possible effects on the economy and potential legal and political obstacles.