Bessent: Fed lost trust of American people over inflation, threatening independence

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)

Scroll to Top