Scrutinizing the Federal Reserve: A Call for Institutional Review
U.S. Treasury Secretary Scott Bessent calls for a comprehensive review of the Federal Reserve's effectiveness, questioning its stance on tariffs and inflation. In a CNBC interview, Bessent refrains from discussing his alleged counsel to President Trump regarding Fed Chair Jerome Powell's potential dismissal, emphasizing it remains the president's decision.
- Country:
- United States
In a recent interview with CNBC, U.S. Treasury Secretary Scott Bessent called for a thorough examination of the Federal Reserve, challenging its success as an institution. Bessent highlighted the need to scrutinize the Fed's stance, particularly regarding what he perceives as its alarmist approach to tariffs.
Avoiding comments on reports of allegedly advising President Donald Trump against firing Federal Reserve Chair Jerome Powell, Bessent maintained that any decision regarding Powell's tenure would lie with the president.
The Treasury Secretary pointed out that despite the Fed's concerns over tariffs, there has been minimal to no significant inflationary impact observed thus far, questioning the validity of its warnings.
(With inputs from agencies.)
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