Treasury Secretary Scott Bessent reportedly informed Trump on Sunday that the investigation “made a mess” and risked destabilizing financial markets.
A source told Axios, “The secretary isn’t happy, and he let the president know.”
Former economic government officials—including three former Federal Reserve chairs, four former treasury secretaries, and former Republican Sen. Phil Gramm of Texas—signed a statement describing the reported criminal investigation into Powell as an “unprecedented attempt to use prosecutorial attacks to undermine [the Federal Reserve’s] independence.”