U.S. Treasury Secretary Warns Investigation Into Fed Chair Powell Could Hurt Financial Markets
Summary
- U.S. Treasury Secretary Scott Bessent was reported to have warned that an investigation into Fed Chair Jerome Powell could negatively affect financial markets.
- Secretary Bessent said the investigation into Chair Powell could increase market uncertainty and undermine confidence in the financial system.
- He said that if perceptions spread that the Fed’s independence is being compromised, capital-market volatility could increase, and that market stability should be taken into consideration.
Forecast Trend Report by Period
U.S. Treasury Secretary Scott Bessent (Scott Bessent) reportedly warned that an investigation into Jerome Powell, chair of the Federal Reserve (Fed), could have a negative impact on financial markets.
According to foreign media reports on the 12th (local time), Secretary Bessent told President Donald Trump that "an investigation into Chair Powell could increase market uncertainty and undermine confidence in the financial system." He was also said to be concerned that if perceptions spread that the Fed’s independence is being eroded, volatility in capital markets could intensify.
As political and legal controversy surrounding Chair Powell has recently grown, Bessent’s remarks are being interpreted as a message that both the credibility of the Fed’s policy and market stability must be taken into account.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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