U.S. Treasury Secretary Urges Fed Neutrality Amid Legal Disputes

Treasury Secretary Scott Bessent criticized Fed Chair Jerome Powell's plan to attend Supreme Court arguments regarding President Trump's attempt to oust Fed Governor Lisa Cook. The case exposes tensions over Fed independence as Trump seeks a successor for Powell.

U.S. Treasury Secretary Scott Bessent has voiced opposition to Federal Reserve Chair Jerome Powell attending Supreme Court arguments over President Trump's effort to dismiss a central bank governor.

The Supreme Court is set to deliberate on the legality of Trump's move to remove Fed Governor Lisa Cook. Powell's attendance, viewed as provocative amid the administration's strife with the Fed, underscores concerns over politicizing the central bank.

Treasury Secretary Bessent's remarks highlight fears surrounding the Fed's autonomy, especially as Trump considers a successor for Powell, whose term ends in May.

(With inputs from agencies.)