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Promote with Leviathan NewsFormer President Donald Trump publicly rejected a Wall Street Journal report alleging that Treasury Secretary Scott Bessent had personally urged him not to fire Federal Reserve Chair Jerome Powell over concerns about market fallout. The Journal story, citing anonymous sources, reportedly said Bessent walked Trump through the potential legal, political, and financial market consequences of removing Powell before the end of his term, and that this intervention helped head off an effort by Trump to oust the Fed chief. Legal experts have repeatedly noted that a president’s authority to fire a Fed chair mid‑term is highly uncertain, and speculation that Trump could try to do so had already unsettled investors. In a sharply worded post on his Truth Social platform, Trump called the Journal article “typically untruthful,” insisted that “nobody had to explain” market risks to him, and declared that “people don’t explain to me, I explain to them.” He also tied this dispute to his broader conflict with the Wall Street Journal, which he is suing for defamation over a separate story about his past ties to Jeffrey Epstein. The episode underscores ongoing tensions between Trump and key economic institutions and advisers, amid parallel reporting that Bessent has privately expressed concern about political interference in the Federal Reserve, including a controversial criminal investigation into Powell that has drawn criticism from market watchers and Republican lawmakers worried about Fed independence.
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