Former Treasury Secretary Larry Summers says Federal Reserve Chair Jerome Powell should stand fast for central bank independence. Former Pacific Investment Management co-CEO Mohamed el-Arian says Powell should stand down for the same thing.
Current Treasury Secretary Scott Bessent says there's no reason for the Fed chair to resign right now. Bessent says too that an investigation of the Fed's renovation project is warranted as part of a review of whether "the organization has succeeded in its mission."
