Fed should stay independent, Trump's pick for US Treasury Secty says
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FILE PHOTO: The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, D.C., U.S., June 14, 2022. REUTERS/Sarah Silbiger/File Photo
(Reuters) - The Federal Reserve should stay independent, Trump's pick to be U.S. Treasury Secretary told a Senate panel on Thursday.
"I think on monetary policy decisions, the FOMC should be independent," Scott Bessent told the U.S. Senate Finance Committee, referring to the Fed's monetary policysetting panel, the Federal Open Market Committee.
"President Trump is going to make his views known," Bessent said, just as senators do when they disagree with what the Fed does with interest rates, but the notion that Trump believes he should have influence over Fed's policymaking by being in the room is "highly inaccurate."
(Reporting by Bo Erickson, David Lawder, Andrea Shalal, Ann Saphir)
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