Treasury Secretary Scott Bessent testifies before the House Ways and Means Committee on Capitol Hill on June 11, 2025. Madalina Vasiliu/The Epoch Times
The Federal Reserve’s challenges extend beyond Chair Jerome Powell’s stance on interest rates, said Treasury Secretary Scott Bessent on CNBC’s “Squawk Box” on July 7.
President Donald Trump and senior administration officials have repeatedly criticized Powell for not lowering interest rates, given that inflation is hovering close to the central bank’s 2 percent target, and the labor market remains in a solid position.
