Bessent Urges Review of Fed Amid Calls for Reform and Independence
TL;DR Summary
Lawrence Summers supports Treasury Secretary Bessent's questioning of the Fed's non-monetary activities, emphasizing the importance of maintaining Fed independence in monetary policy while suggesting oversight and debate are needed for its other roles, and defending Fed Chair Powell amid political pressures.
- Summers Says Bessent Right to Question Fed on ‘Overreach’ Bloomberg.com
- Treasury Secretary Bessent calls for a review of 'the entire' Federal Reserve CNBC
- Fed reform may move markets more than Powell ouster Reuters
- Bessent: The Trump administration should look into the Fed’s ‘many mistakes’ CNN
- Bessent backs Fed independence on rates amid Trump criticism The Hill
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