U.S. Treasury Secretary Elizabeth Bessent told a Cabinet meeting on Tuesday that the Federal Reserve’s independence is a “political arrangement” that derives its credibility from public trust. She added that President Donald Trump is “restoring trust to government,” implying that renewed confidence underpins the central bank’s ability to operate independently. Bessent’s comments come as policy analysts debate whether the White House is encroaching on the Fed’s autonomy. One economist warned that abandoning the 1951 Treasury-Fed Accord or attempting to remove a board member under weak legal grounds would amount to wresting control of monetary policy away from the central bank. Market reaction has focused on traditional havens. MarketWatch reported that concerns over Fed independence are making gold the preferred refuge for investors, while Forbes noted that any erosion of the Fed’s credibility could undermine the government’s Strategic Bitcoin Reserve, which is intended to serve as a store of value for federal assets.