The FT reported on 26 March that Bessent had discussed increasing oversight of the Federal Reserve in a way that resembled the Bank of England, including through regular communication between its governor and Britain's chancellor over inflation targets. https://archive.is/2026.03.29-012904/https://www.theguardian.com/us-news/2026/mar/28/treasury-department-financial-times-federal-reserve
The FT report comes amid heightened sensitivity in financial markets and among treasury officials about the Federal Reserve’s political independence following Donald Trump’s repeated threats to fire its chair, Jerome Powell, for ignoring his demands to reduce borrowing costs.
Federal Reserve Add to myFT Scott Bessent praises Bank of England as model for tighter oversight of Federal Reserve Conversations come at time when Donald Trump has launched assault on US central bank https://archive.is/2026.03.26-143252/https://www.ft.com/content/9d1859f0-2f93-4ff1-8cfb-8046342bf9f7?syn-25a6b1a6=1
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