Fed Accountability Push: Bessent Presses for Credibility Amid Inflation and Scrutiny
TL;DR
In a House Financial Services Committee hearing, Treasury Secretary Scott Bessent called for greater Federal Reserve accountability and said the central bank has lost public trust amid high inflation and the Fed’s costly headquarters renovation, while defending its independence. He declined to state whether the president can fire a Fed governor or chair, noted political and legal scrutiny surrounding Chair Jerome Powell and the Warsh nomination, and highlighted debates over how the Fed is funded and its influence on monetary policy.
Topics:nationpolitics#federal-reserve#house-financial-services-committee#inflation#jerome-powell#politics#warsh-nomination
- Bessent Says Fed Lacks Accountability and Has Lost Public Trust The New York Times
- 'Can you shut him up?:' Waters and Treasury's Bessent clash over Trump's economic agenda Fox News
- Maxine Waters’ ‘Can you shut him up’ moment with Scott Bessent, explained CNN
- Treasury Secy. Bessent Testifies on U.S. Economy C-SPAN
- Democrats grill Bessent at House oversight hearing: 'Stop covering for the president' CNBC
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