Fueling speculation, Bill Pulte—chair of government-backed lenders Fannie Mae and Freddie Mac—claimed in a post on X that Powell may not finish his term. Pulte has repeatedly called for Powell’s resignation,

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell is gaining some key backing on Capitol Hill from GOP senators who fear the repercussions if President Donald Trump follows through with threats to try and remove the politically independent central banker.

Scott Bessent, before assuming his role as the Treasury Secretary, spent his career in finance, working for macro investment billionaire George Soros and noted short seller Jim Chanos, as well as running his own hedge fund.