US Treasury Secretary Bessent: The Federal Reserve should remain independent, but it has also made many mistakes

Jinse Finance reported that U.S. Treasury Secretary Bessent stated on Monday that the Federal Reserve is and should remain independent, but also pointed out that the institution "has made many mistakes," and defended U.S. President Trump's right to dismiss Federal Reserve Governor Lisa Cook on the grounds of mortgage fraud charges. Trump has been criticizing the Federal Reserve and its Chairman Jerome Powell for months for failing to cut interest rates, and recently targeted Powell over the costly renovation project at the central bank's Washington headquarters. "The Federal Reserve should remain independent. The Federal Reserve is indeed independent, but I think they have also made many mistakes," Bessent said in an interview at a restaurant in the suburbs of Washington.