Treasury Secretary Scott Bessent said Monday he believes the Federal Reserve system should be reviewed for potentially holding back the US economy, which is “on the cusp” of growth that could equal the dot-com boom seen in the 1990s.

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.

Economists interviewed by Newsweek warned that removing Powell now would roil markets, erode trust in U.S. institutions and ultimately hurt ordinary Americans.