The White House declined to comment. At the heart of the dispute is a long-running power struggle between Bessent, Pulte and Commerce Secretary Howard Lutyck, who is close to Pulte, according to two people familiar with the matter. Trump has publicly praised both men in recent days, calling them “different people” and “charming and wonderful” in their own ways. Pulte has gained more influence in recent weeks, battling the Fed and governors.
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At the center of the dispute is a struggle for influence and place in a system where Trump is trying to reshape the Fed’s board and is pushing for lower interest rates. This is not the first time Bessent has clashed with now-former White House adviser Elon Musk earlier this year over who should lead the IRS. Bessent attended the U.S. Open with Trump on Sunday, though he sat a few seats away from the president.
