Treasury Secretary Scott Bessent suggested on Monday that the government could open an investigation into the Federal Reserve, which has drawn President Donald Trump’s wrath for refusing to lower interest rates.
Despite threats from the White House that he could be fired from his powerful position, Fed Chairman Jerome Powell has rebuffed Trump’s wishes for months, arguing that a steady hand on inflation is needed due to concerns the president’s global tariffs on many foreign goods could spike consumer prices in the United States.
An examination of the Fed is necessary to see if it has guided the country successfully in setting economic outlooks and policy and to determine why Fed members have proved unable to “break out of a certain mindset,” Bessent said during an
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