Bessent Says Trump Keeps Powell, Criticizes Fed Over Labor Data

U.S. Treasury Secretary Bessent said President Donald Trump has no intention of dismissing Federal Reserve Chair Jerome Powell, reaffirming the administration’s support for the central-bank chief despite recent policy disagreements. In a televised interview, Bessent faulted the Federal Reserve for holding rates steady while subsequent revisions showed weaker labor-market growth. "Something is wrong when the Fed doesn’t cut and then the jobs numbers are revised," she said, adding that the head of the Bureau of Labor Statistics bears responsibility for what she called overdue data corrections. Bessent also noted that the administration’s trade negotiations are "largely done," signaling that the White House expects only limited outstanding issues before final agreements are reached.