Economy

Bessent Says Federal Reserve’s Challenges Go Beyond Chairman Powell’s Stance on Interest Rates

The White House is also eyeing an open seat at the Federal Reserve.
Bessent Says Federal Reserve’s Challenges Go Beyond Chairman Powell’s Stance on Interest Rates
Treasury Secretary Scott Bessent testifies before the House Ways and Means Committee on Capitol Hill on June 11, 2025. Madalina Vasiliu/The Epoch Times
Andrew Moran
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The Federal Reserve’s challenges extend beyond Chair Jerome Powell’s stance on interest rates, said Treasury Secretary Scott Bessent on CNBC’s “Squawk Box” on July 7.

President Donald Trump and senior administration officials have repeatedly criticized Powell for not lowering interest rates, given that inflation is hovering close to the central bank’s 2 percent target, and the labor market remains in a solid position.

Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."