Fed Should Be Independent, Has Made Mistakes, Treasury Secretary Bessent Says
U.S. Treasury Secretary Scott Bessent said on Monday the Federal Reserve is and should be independent but said it had "made a lot of mistakes" and defended President Donald Trump's right to fire Fed Governor Lisa Cook over allegations of mortgage fraud.
Trump has criticised the Fed and its chair, Jerome Powell, for months for not lowering interest rates, and recently took aim at Powell over a costly renovation of the bank's Washington headquarters.
Recommended For You"The Fed should be independent. The Fed is independent, but I, I also think that they've made a lot of mistakes," Bessent told Reuters in an interview at a diner in suburban Washington.

Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research

- Seoul Exchange, One Of Only Two Licensed Platforms For Unlisted Securities, Will Exclusively Use Story To Settle Tokenized Rwas
- Phase 6 Reaches 50% Mark As Mutuum Finance (MUTM) Approaches Next Price Step
- 0G Labs Launches Aristotle Mainnet With Largest Day-One Ecosystem For Decentralized AI
- Solotto Launches As Solana's First-Ever Community-Powered On-Chain Lottery
- Kintsu Launches Shype On Hyperliquid
- Blockchainfx Raises $7.24M In Presale As First Multi-Asset Super App Connecting Crypto, Stocks, And Forex Goes Live In Beta
Comments
No comment