Bessent Blames the Fed for Driving Inequality in the US

Treasury Secretary Scott Bessent says the Federal Reserve “is among the foremost drivers of inequality in America.”

• “By failing to deliver on its inflation mandate, the Fed allowed class and generational disparities to grow worse, expanding the divide between asset-owners and lower-income Americans,” Bessent says
• NOTE: Bessent, who is leading the search for President Trump’s pick for a new Fed chair, attacked the central bankearlier today for curbing US growth and published extensive commentary on the institution’s shortcomings last week

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Kasia Klimasinska in Washington at kklimasinska@bloomberg.net

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