The President of the United States says the Treasury Secretary has expressed his desire to remain in its current role.
US President Donald Trump has rejected the secretary of Treasury Scott Basent as his choice to replace Federal Reserve Chair Jerome Powell.
Trump has repeatedly criticized Powell for not falling off interest rates. He said on Tuesday that Besent expressed his desire to move forward in his current role.
In an interview to CNBC, Trump told CNBC, “I love Scott, but he wants to stay wherever he is,” Trump said that Besent was doing a “good job” and he had recently told him that he did not want a post.
Trump said that he has four candidates to replace Powell, which expired in May, including Kevin Heritage, who worked on Fed’s seven -member governor board and Kevin Hasset, director of the White House National Economic Council.
He said that we could use the opportunity to replace Adriana de Kougler, who announced her early resignation as one of the seven governors last week. Prior to the departure of Powell, the chair was selected on the board.
Trump said, “I am going to make a decision soon.
Trump has repeatedly dubbed the frequent attacks on Powell, who has dubbed “too late”, expressing concern over the US central bank, which considers investors as important to the health of the US economy.
Last month, Trump asked the Republican MPs to fire the Fed’s chair, following the report, the Benchmark SP P5 P500 fell 0.7 percent.
Refusing the intention of removing Powelling quickly, the US stock was rapidly recovered.
The laws and the previous president of the US Supreme Court can only remove the “reasons” of the Fed’s chair, which means evidence of corruption or misconduct.
