Trump says he'd love to fire Powell, urges Bessent to 'work on' him to lower rates

Core Viewpoint - President Trump expressed a desire to fire Federal Reserve Chair Jerome Powell, indicating frustration with the current interest rate levels and suggesting that Treasury Secretary Scott Bessent is preventing him from taking action [1][2][4]. Group 1: Trump's Comments on Powell - Trump stated he would love to fire Powell, emphasizing that interest rates are too high and urging Bessent to address this issue quickly [1][2]. - Trump recounted a conversation where Bessent pleaded with him not to fire Powell, highlighting the tension between the administration's goals and the Fed's actions [3]. Group 2: Federal Reserve's Rate Decisions - The Federal Open Market Committee recently approved a quarter percentage point reduction in the overnight borrowing rate, bringing it to a range of 3.75%-4% [3]. - The minutes from the Fed's October meeting revealed that officials were conflicted about further rate cuts, indicating ongoing discussions within the central bank [3]. Group 3: Administration's Search for Successor - Trump mentioned that his administration is in talks with multiple candidates to succeed Powell, with Bessent involved in the search process [4].