Bessent: Fed Eroded Trust Over Inflation, Threatens Policy Independence (2/4/2026)

U.S. Treasury Secretary Scott Bessent stated at a House Financial Services Committee hearing on February 4, 2026, that public trust in the Federal Reserve—the foundation of its policy independence—was eroded by allowing inflation to rise, which ravaged household incomes. Bessent argued that Presidents and prominent senators, including former President Donald Trump and Sen. Elizabeth Warren, have the right to publicly express views on Fed monetary decisions. He reiterated his support for a strong-dollar policy.