Benson speaks out: There is no reason to demand the resignation of Federal Reserve Chairman Powell.

As Trump administration officials continue to attack Federal Reserve Chairman Jerome Powell, U.S. Treasury Secretary Scott Bennett has stated that there is currently no reason to ask the Fed Chairman to resign early. Speaking about the Fed Chairman on Tuesday, Bennett stated: "There is no indication at this point that he needs to resign immediately. His term will end in May next year. If he intends to stay until the end of his term, I think it is only right; if he chooses to resign early, I will also respect that." Powell has been under criticism from U.S. President Donald Trump for months because the Fed, under his leadership, has kept interest rates steady, fearing that the U.S. government's tariffs could lead to inflation. This month, some Republicans also questioned Powell about the massive renovation project at the Fed building. Bennett called for an internal review of the Fed's non-monetary activities, including this renovation project, on Monday. Bennett said: "This is an opportunity for him and the political legacy he leaves behind - he can reasonably adjust the Fed's non-monetary policy functions." He emphasized that in terms of monetary policy, "we should treat it independently." Regarding other measures, Bennett said, "The Fed has been continuously expanding. This is the consequence of lack of oversight - they are not subject to appropriation limits. They just print money and spend it. I believe there should be a thorough review of this." Last week, when asked if he would rule out the possibility of firing Powell, Trump responded: "I don't rule out anything, but I think it is highly unlikely - unless he has to resign for fraudulent behavior. I mean, the renovation project at the building may involve fraud." Bill Pulte, director of the Federal Housing Finance Agency (FHFA), claimed that Powell's testimony on the renovation project was "deceptive," but did not provide details. In a letter last week to Russell Vought, director of the White House Office of Management and Budget, Powell stated: "We are keenly aware of our responsibility to manage public resources properly, as we represent the American people in fulfilling the responsibilities given to us by Congress." He also responded to several questions about the $2.5 billion renovation project raised by Vought. Powell's term as Fed Chairman will end in May next year, but his term as a Fed governor will continue until January 2028. He refused to reveal whether he will completely leave the Fed after his term as Chairman ends. Bennett hinted last week that he should take this action.