U.S. Treasury Secretary Vincent: The Federal Reserve should remain independent, but it has also made many mistakes
2025-09-01 18:54:35
The US Federal Reserve is and should remain independent, Treasury secretary David Bessant said on Monday, but noted that the institution had "made a lot of mistakes" and defended President Donald Trump's right to fire Lisa Cook, a Fed governor, over allegations of mortgage fraud. Mr. Trump has for months criticised the Fed and its chairperson Jerome Powell for failing to cut interest rates and recently attacked him over a costly renovation of the central bank's Washington headquarters. "The Fed should be independent. The Fed is independent, but I think they have made a lot of mistakes," Mr. Bessant said in an interview at a suburban Washington restaurant.
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