Analyst: Powell’s “No Comment” May Escalate Tensions with Trump

According to Jinse Finance, analyst Anstey noted that near the end of the press conference, a reporter asked about U.S. Treasury Secretary Bessent’s earlier comment that “Powell remaining on the Federal Reserve Board after stepping down as Chair would cause confusion.” Federal Reserve Chair Powell declined to respond, simply stating, “No comment.” This seemingly simple reply may actually be the most meaningful statement of the press conference. The ongoing silence regarding whether he will leave the Fed entirely in May is likely to further strain relations with the Trump administration. Recently, Bessent has become increasingly explicit in stating that Powell should step down in May. Last week, Bessent revealed that Powell has not yet informed him whether he will leave the Board before 2028, but said, “Personally, I believe he will leave.”