Trump's Warsh joke was misunderstood, says Bessent

Investing.com -- U.S. Treasury Secretary Scott Bessent clarified that President Donald Trump was joking when he suggested he could sue Kevin Warsh, his Federal Reserve chair nominee, if interest rates aren't lowered.

During a Senate Banking Committee hearing on Thursday, Senator Elizabeth Warren questioned Bessent about Trump's weekend comments made at a Washington dinner. The Treasury Secretary defended the remarks in a Friday CNBC interview.

"I tried to explain to Senator Warren ... who seems to have no sense of humor, that it was a joke," Bessent told CNBC. "And again, the president has great respect for the Fed, for the Fed's independence."

The exchange highlights ongoing scrutiny of the relationship between the Trump administration and the Federal Reserve as Warsh's nomination process continues.

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