Fed ought to remain independent, Trump’s choice for United States Treasury Secty claims

(Reuters) – The Federal Reserve ought to remain independent, Trump’s select to be united state Treasury Secretary informed a Senate panel on Thursday.

“I think on monetary policy decisions, the FOMC should be independent,” Scott Bessent informed the united state Senate Finance Committee, describing the Fed’s financial policysetting panel, the Federal Open Market Committee.

“President Trump is going to make his views known,” Bessent stated, equally as legislators do when they differ with what the Fed performs with rates of interest, yet the concept that Trump thinks he must have impact over Fed’s policymaking by remaining in the space is “highly inaccurate.”

(Reporting by Bo Erickson, David Lawder, Andrea Shalal, Ann Saphir)