Benson: There is currently no reason to ask Powell to step down as Chairman of the Federal Reserve.

In the background of frequent attacks by officials in the Trump administration, US Treasury Secretary Mnuchin publicly supports Federal Reserve Chairman Powell, saying he sees no reason for him to step down. Mnuchin said in an interview with Fox Business on Tuesday, "There is no indication that he should resign now, his term ends in May next year. If he wants to stay until the end, I think he should. If he wants to leave earlier, I think he can." For months, Powell has been under criticism from Trump because he led the Fed to keep interest rates unchanged, fearing the inflation impact of government tariff increases. This month, some Republicans also raised objections to a costly renovation plan for the Fed building. Mnuchin called for an internal review of the Fed's non-monetary activities, including the renovation project. Mnuchin said, "Now there is a real opportunity for him, and it is his legacy - to rationalize the non-monetary policy functions of the Federal Reserve."