The soon-to-be top Democrat on the Senate Banking Committee cautioned Scott Bessent, Donald Trumpās pick to be the next treasury secretary, to respect the Federal Reserveās policy independence.
āI have been a fierce critic of Fed Chair Jerome Powellās extreme interest rate hikes and lack of transparency, but I have never questioned that it is his job to make those decisions. It would be a serious error for the Trump administration to interfere with the Fedās independence, as Mr. Bessent has suggested,ā Sen. Elizabeth Warren (D-Mass.) said in a statement Monday.
Gold will destroy the fed.