The News
US Sen. Elizabeth Warren, D-Mass., is warning President-elect Donald Trump’s treasury secretary nominee Scott Bessent not to meddle with the Federal Reserve.
“It would be a serious error for the Trump administration to interfere with the Fed’s independence, as Mr. Bessent has suggested,” Warren said in a statement on Monday.
The progressive, a Finance Committee member and the top Democrat on the Banking Committee next year, criticized Bessent as a steward of wealthy investors without explicitly pledging to oppose him.
Bessent, a billionaire hedge fund manager and former Democratic donor, has floated the idea of a “shadow Fed chair,” while Trump has expressed interest in weighing in on the central bank’s rate decisions.
Bessent told The Wall Street Journal that his priorities would be delivering on tax cuts, imposing tariffs, slashing spending, and “maintaining the status of the dollar as the world’s reserve currency.”