Treasury Secretary Scott Bessent has assailed the International Monetary Fund and the World Bank even as he tries to reassure nervous investors the United States will maintain its global leadership role.
Treasury Secretary Scott Bessent leveled harsh criticism at the operations of the World Bank and the International Monetary Fund on Wednesday even as he tried to reassure nervous investors that the United States would maintain its global leadership role.
“America first does not mean America alone,” he said in a speech to the Institute of International Finance. “To the contrary, it is a call for deeper collaboration and mutual respect among trade partners.”
Although Bessent said the IMF and the World Bank are “falling short,” he stopped short of calling for the U.S. to withdraw from the institutions as some conservatives have advocated.
It was the latest example of how Bessent, a former hedge fund manager who keeps a close eye on the financial markets, has tried to calm the economic turmoil as President Donald Trump tries to rewire international trade through aggressive tariffs.
