As President Donald Trump doubles down on bending the Federal Reserve to his will, Treasury Secretary Scott Bessent wants to stay out of the fray.
Bessent told House members Wednesday that the central bank has “lost the trust of the American people” — but declined to say whether Trump can fire Fed officials over policy disagreements.
“I’m not a lawyer and I don’t have an opinion,” Bessent told Rep. Ritchie Torres, D-N.Y. He added later that “there are varying opinions within the administration.”
Democratic lawmakers will get another chance to press Bessent when he testifies before the Senate Banking Committee on Thursday morning.
Senate Banking Chair Tim Scott, R-S.C., told Fox Business that he did not believe Fed Chair Jerome Powell “committed a crime” when he testified before the panel on a renovation project, potentially undermining the Justice Department’s ongoing investigation into those comments.