“ Trump disputes WSJ report on Bessent talking him out of firing Powell PUBLISHED SAT, JUL 19 20255:51 PM EDTUPDATED 4 HOURS AGO Erin Doherty@ERINPDOHERTY Treasury Secretary Scott Bessent reportedly told President Donald Trump not to fire Federal Reserve Chair Jerome Powell, according to The Wall Street Journal. Bessent, who cited the possible legal, political and economic fall-out, marked a departure from other top Trump administration officials, who have increased their public criticism of Powell. Trump dismissed the Journal story as “typically untruthful.” Scott Bessent, US treasury secretary, during a Bloomberg Television interview in New York, US, on Monday, June 30, 2025. Victor J. Blue | Bloomberg | Getty Images President Donald Trump on Sunday denied a Wall Street Journal reportsuggesting Treasury Secretary Scott Bessent talked him out of firing Federal Reserve Chair Jerome Powell. Bessent reportedly told Trump that removing Powell before his term is up next spring could spur a negative reaction in the economy and financial markets, and push the central bank into uncharted legal and political territory, the Journal reported, citing people familiar with the matter. Bessent also argued that the Fed appears poised to cut interest rates this year, making it unnecessary to remove Powell, the Journal said. The president has harshly criticized Powell in the past for not slashing short-term rates. But Trump disputed the Journal story in a Truth Social post on Sunday, calling it “typically untruthful.” “Nobody had to explain that to me. I know better than anybody what’s good for the Market, and what’s good for the U.S.A.,” Trump wrote. “People don’t explain to me, I explain to them!” he added. Bessent’s comments to Trump mark a departure from the president’s other top allies, some of whom have increased their criticisms of Powell in recent weeks.” CNBC