Bessent Calls for Simplified Fed as He Ends Candidate Interviews

Treasury Secretary Scott Bessent said that a key theme of his interviews for the next chair of the Federal Reserve has been simplifying the US central bank, which he indicated has become too complex in how it manages money markets.

“One of the things in terms of the criteria that I’ve been looking for” has been the interplay of the Fed’s various instruments, Bessent said on CNBC Tuesday. “I realize the Fed has become this very complicated operation.”

Bessent said his final second-round interview with the five candidates to succeed Chair Jerome Powell will be today, and reiterated that President ...