Bessent: Fed is independent agency

Investing.com -- U.S. Treasury Secretary Scott Bessent stated Wednesday that he considers the Federal Reserve an independent agency, while declining to express an opinion on whether the president has constitutional authority to fire Fed officials over monetary policy disagreements.

During testimony before the House Financial Services Committee, Bessent emphasized that "the Fed has to maintain credibility and operate beyond reproach."

The Treasury Secretary also provided an upbeat assessment of foreign investment flows into the United States. "We are still seeing very good flow of foreign funds into U.S. Treasuries and massive flow into U.S. equities," Bessent told lawmakers.

He added that the U.S. is experiencing "substantial foreign direct investment" as international capital continues to seek opportunities in American markets.

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