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U.S. Treasury Chief Bessent Calls for Fed Review Amid Controversy

9/1/2025

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Summary

Story summary

U.S. Treasury Secretary Scott Bessent affirmed the Federal Reserve's independence but noted its past mistakes.
He supported President Trump's authority to dismiss Fed Governor Lisa Cook amid mortgage fraud allegations, which she denies.
Bessent expressed concern over the Fed's absence of an independent review of these allegations.
He highlighted market stability despite Trump's actions.
Bessent called on the Senate to confirm Stephen Miran for a temporary role.

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Story summary

U.S. Treasury Secretary Scott Bessent affirmed the Federal Reserve's independence but noted its past mistakes.
He supported President Trump's authority to dismiss Fed Governor Lisa Cook amid mortgage fraud allegations, which she denies.
Bessent expressed concern over the Fed's absence of an independent review of these allegations.
He highlighted market stability despite Trump's actions.
Bessent called on the Senate to confirm Stephen Miran for a temporary role.