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Warsh has advised against trying to fire Powell, arguing that Trump should let the Fed chair complete his term without interference, the Journal reported, citing unnamed people familiar with the matter. The report comes the same day that Trump has repeatedly lashed out at Powell, whose term as Fed chair expires in May 2026.

“The White House’s actions have made it harder for the Fed to cut rates,” said a Columbia Business School professor.

WASHINGTON (Reuters) -President Donald Trump said on Thursday he believes Federal Reserve chair Jerome Powell will leave his job if Trump asks him to do so, although the U.S. central bank chief himself has said he would not leave if asked by the president. Trump told reporters he was not happy with Powell, saying he has been "too late" to take actions. Powell has repeatedly said he intends to serve the full remainder of his term as chair, which expires in May 2026, and has also said he would refuse to step aside if asked by Trump.

U.S. energy firms this week added oil and natural gas rigs for the first time in four weeks, energy services firm Baker Hughes said in its closely followed report on Thursday. Baker Hughes released the rig count report one day early on Thursday due to the Good Friday holiday. Despite this week's rig increase, Baker Hughes said the total count was still down 34 rigs, or 5% below this time last year.

The Treasury Department will take the lead on creating recommendations on the policy agenda, the report added, citing people with knowledge of the matter. The Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) declined to comment on the report, while the U.S. Treasury did not immediately respond to Reuters requests for comment. Bessent said last week his department will play a greater role in banking regulation to better balance costs and benefits and ensure that lenders can finance growth in the U.S. economy.

Goldman Sachs thinks gold could reach $3,700 an ounce by the end of 2025 because the metal was "uniquely positioned to hedge recession risk."

President Donald Trump's trade war has created the biggest uncertainty for U.S. airlines since the COVID pandemic. While Delta Air Lines and Frontier have withdrawn their full-year outlook, United has offered two different earnings forecasts. "It kind of really shows a lack of conviction," said Brian Mulberry, client portfolio manager at Zacks Investment Management, which holds shares of United.