The gloves are off! Bessent is outright blasting Powell for refusing to step down—this Federal Reserve power transition battle is now fully out in the open. In an interview, he mercilessly tore apart Powell’s facade of clinging to his position. He explicitly pointed out that this is an extremely rare and abnormal move in the Federal Reserve’s 100+ year history, and that Trump never even stepped in to ask him to stay. In response to Powell’s self-proclaimed role as the 'guardian of the institution,' Bessent fired back, saying this is not only a blatant violation of the Fed’s historical norms but also a serious insult to incoming figures like Walsh. On top of that, he directly pinned the blame for the worst inflation disaster in nearly half a century squarely on Powell. With Walsh set to officially take the reins in mid-May, the Trump camp’s push for absolute accountability is about to be fully implemented. The new Treasury and Federal Reserve leadership have already locked in a unified macro perspective. The old monetary policy framework is being forcibly dismantled, and a sweeping macro-level reshuffle of liquidity at the grassroots level is now inevitable.