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BESSENT: "I have called for an internal review of all of the Fed's operations... and this is the kind of thing that needs to be addressed because the Fed is an unaccountable institution." https://t.co/K6yEPeuoFs
“The Federal Reserve is meant to be protected from these types of political pressures. It is an independent institution.” https://t.co/D3aa7XFCyn
SCOTT BESSENT: "The Fed Governors must be independent. Nobody just sends them a note saying 'vote this way.' Since 2008, I think the Fed has really drifted from its main monetary policy job. That puts its independence at risk. It really needs to get back to its core mission." https://t.co/mdBk6u1VZx
Scott Bessent, Treasury Secretary, criticized the Federal Reserve for deviating from its core monetary policy mission since 2008, raising concerns about the institution's accountability and independence. Bessent emphasized that the Fed Governors must remain independent and not be influenced by external directives. He called for an internal review of the Fed's operations to address these issues, highlighting that the Federal Reserve is intended to be an independent institution protected from political pressures. These remarks underscore ongoing debates about the Fed's role and governance in the post-2008 economic landscape.
