United States Treasury Secretary Calls for Fed Examination

In a recent interview with CNBC, United States Treasury Secretary Scott Bessent emphasized the necessity for President Donald Trump's administration to conduct a thorough review of the Federal Reserve. Bessent highlighted the importance of this examination without delving into specifics about Chairman Jerome Powell's future, stating it ultimately rests on Trump's decision.

Controversy and Clarifications

Bessent refrained from confirming reports by The Wall Street Journal regarding his alleged advice to Trump against firing Powell, labeling the claims as based on incomplete information. He also advocated for a reduction in the Fed's interest rates to stimulate the mortgage and housing markets.

Upcoming Fed Premises Review

This development follows announcements of the Trump administration's planned visit to the Federal Reserve headquarters to assess the ongoing $2.5 billion renovation project, underscoring the administration's active interest in the institution's operations and infrastructure.