US Treasury Secretary Scott Bessent has given the FT both barrels over their “explicitly false story” which claimed he had considered strengthening Treasury oversight of the Federal Reserve “in the Bank of England’s image“. Bessent described the paper as “tabloid trash”…
“Despite my direct, on-the-record denial of ever having advocated, explored, or espoused the idea that Chancellor-Bank of England statute serving as a prototype for a Treasury-Federal Reserve relationship, FT journalists manufactured a story with the headline, “Scott Bessent praised Bank of England as model for tighter oversight of the Federal Reserve.”
These pathetic journalists have clearly fabricated a story to give the impression that both I and the Trump Administration are setting “about restructuring the relationship… at a time when President Donald Trump has launched an unprecedented assault on the world’s most important central bank.”
Their mendacious assertion is based on vague statements from unnamed “financial industry executives familiar with the matter.”
In short, FT has literally manufactured an entirely fake policy position for me and the Administration. Other than furthering a maliciously false narrative of dysfunction and divisiveness, it baffles the mind as to why they would shred their already diminished journalistic credibility.”
At the time of going to pixel, the post is still live on the FT’s site with no update to reflect Bessent’s pushback…
