『Headline: Treasury Secretary Bessent Challenges Fed, Promotes Digital Assets and Regulatory Reform』のカバーアート

Headline: Treasury Secretary Bessent Challenges Fed, Promotes Digital Assets and Regulatory Reform

Headline: Treasury Secretary Bessent Challenges Fed, Promotes Digital Assets and Regulatory Reform

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 Scott Bessent, the Secretary of the Treasury, has been at the center of several major news stories over the past few days. In a high-profile interview with CNBC, Bessent dramatically increased pressure on the Federal Reserve, calling for a sweeping investigation into the central bank’s effectiveness and operations. His demands, as reported by both CNBC and Fortune, have intensified the ongoing debate between the Trump administration and Fed Chair Jerome Powell. Bessent likened the proposed probe to safety reviews in other federal agencies and suggested that if the Federal Reserve were an airline regulator with as many perceived mistakes, a root-cause investigation would be inevitable. He openly questioned whether the Fed’s economists have delivered on their mission, pointing to what he describes as an intellectual inflexibility at the central bank.

Bessent’s criticism of the Federal Reserve also comes as he challenges the institution’s stance on inflation tied to tariffs. He claimed that the Fed has engaged in fear-mongering over President Trump’s tariff policies, yet the inflation data for June showed annual inflation at 2.7 percent, a figure he regards as proof that the dire warnings from central bank officials have not materialized as predicted. This comes amid speculation over whether President Trump will move to replace Jerome Powell, with Bessent refusing to say whether he has urged against the removal but confirming that a search for a successor is ongoing.

In parallel with his focus on monetary policy, Bessent has championed digital asset innovation. Following the signing of the GENIUS Act by President Trump, Bessent issued a statement highlighting how stablecoins will create a fast and frictionless digital payment rail for the dollar. He argued that this move not only supports the dollar’s role as the primary global reserve currency but also opens up digital banking access to billions globally and increases demand for US Treasuries.

Bessent also addressed regulatory issues concerning banks and financial innovation in a speech at the Federal Reserve Capital Conference. He outlined a vision for financial regulation that centers on growth and protection for community banks, rather than Wall Street. He emphasized protecting Americans from potential debanking for political or religious views and called for regulation that fosters innovation and aligns with national security interests. Notably, he stated that Treasury will break through policy inertia and settle interagency disputes to ensure efficiency and reform in the financial sector.

On the regulatory front, the Treasury, under Bessent’s direction, announced the postponement of new anti-money laundering rules for investment advisors. The delayed implementation aims to reduce compliance burdens and allow for greater regulatory certainty as more tailored rules are developed.

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