"What we need to do is examine the entire Federal Reserve institution and whether they have been successful," Bessent told CNBC's Squawk Box.

The move comes amid ongoing pressure from President Trump and his allies, who continue to call for the removal of Jerome Powell.

It’s just six months into President Trump’s second term, and speculation is swirling about the fate of his Federal Reserve chairman, Jerome Powell. Headlines pulse with the drama of his impending ...

Treasury Secretary Scott Bessent told the president that ousting Jerome Powell entailed risks, including possible effects on the economy and potential legal and political obstacles.