According to the Wall Street Journal, Treasury Secretary Bessent stressed that the Federal Reserve must undergo an independent, nonpartisan review to strengthen credibility and reduce its impact on economic distortions.
US Treasury Secretary Bessent emphasized that the Federal Reserve needs to restore its credibility as an independent institution to secure future economic stability. She called for an honest, nonpartisan review of the Fed’s monetary policy, regulation, communication, staffing, and research. Bessent further noted the importance of reducing the central bank’s distortions on the economy.