Bessent: Fed lost trust of American people over inflation, threatening independence
Tweet
Share
E-mail
U.S. Treasury Secretary Scott Bessent testifies before a House Financial Services Committee hearing about the annual report of the Financial Stability Oversight Council, on Capitol Hill in Washington, D.C., U.S., February 4, 2026. REUTERS/Kylie Cooper
WASHINGTON, Feb 4 (Reuters) - U.S. Treasury Secretary Scott Bessent on Wednesday said that the independence of the Federal Reserve was based on Americans' trust of the central bank, which it lost because it allowed inflation to get out of control and "ravage" their incomes.
Bessent, asked at a House of Representatives Financial Services Committee hearing for his views on Fed independence, said that President Donald Trump had the right to publicly express his views on Fed monetary policy decisions, as does Democratic Senator Elizabeth Warren or anyone else.
Bessent also repeated that he always supports a strong dollar policy.
(Reporting by David Lawder)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Ukraine braces for harsh winter as Russian attacks hit economy
- Anthropic CEO urges AI companies to slow model development amid fears over misuse
- Russian attacks kill six, injure dozens in Ukraine, Moscow says it hits ships, plants
Create E-mail Alert Related Categories
ReutersRelated Entities
Donald J. Trump, Elizabeth WarrenSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
