Insiders: Vincent strongly advises Trump not to dismiss Powell

According to BlockBeats news, on July 20th, according to the Wall Street Journal, insiders reported that US Treasury Secretary Vicente has privately advised Trump in recent days not to attempt to dismiss Federal Reserve Chairman Powell. Besant's reasons mainly focus on the following points: the possible impact on the economy and market, the possibility of the Federal Reserve cutting interest rates later this year, and the possibility of political and legal obstacles to recall. Bessent believes that firing Powell is unnecessary because the economy is performing well, the market is responding positively to the president's policies, and Federal Reserve officials have signaled that they may make two interest rate cuts before the end of the year. If Powell is fired before the end of his term, he may file a lawsuit, which could drag on until next spring, when Powell's term also comes to an end. Bessen also pointed out that the term of Director Kugler will end in January next year, and Powell's term will end in May, which will leave one or two vacancies for Trump to fill at the beginning of next year. Besent's cautious attitude contrasts with some other government officials who are considering adopting more aggressive strategies. Trump told reporters on Tuesday that he found Benson 'reassuring'.