Treasury Secretary Scott Bessent on Monday called for a deep and wide review of the Federal Reserve, questioning whether the central bank is failing at | Economy
Treasury Secretary Scott Bessent on Monday called for a deep and wide review of the Federal Reserve, questioning whether the central bank is failing at its central missions of conducting monetary policy, supervising the biggest banks, and ensuring financial stability.
“What we need to do is examine the entire Federal Reserve institution and whether they have been successful,” Bessent said during an interview on CNBC’s “Squawk Box.” “Has the organization succeeded in its mission? If this were the FAA and we were having this many mistakes, we would go back and look at why has this happened.”
His comments appeared to call for a much more thorough review of the Fed’s activities than has been undertaken in decades.
