Bessent says next Fed chair must look beyond rates

Description

U.S. Treasury Secretary Scott Bessent says the next leader of the Federal Reserve should be someone capable of taking a broad view of the institution beyond just interest rate adjustments, cautioning that the central bank’s growing range of duties could threaten its autonomy. Speaking in Washington on August 7, Bessent described the qualities he believes the position demands. “It’s someone who has to have the confidence of the markets, the ability to analyze complex economic data,” he told the J...