Bessent Attended a Supreme Court Argument. Now He’s Telling Powell Not To.
The New York Times • • business
Key Points:
- Treasury Secretary Scott Bessent criticized Federal Reserve Chair Jerome Powell's decision to attend Supreme Court oral arguments on President Trump's authority to remove Fed Governor Lisa Cook, saying it risks politicizing the Fed.
- Bessent himself attended a previous Supreme Court case involving Trump's tariff authority, highlighting a perceived inconsistency in his advice to Powell.
- The case centers on whether the president can remove Fed governors "for cause," with Cook suing after Trump attempted to oust her, amid allegations of mortgage fraud she denies and has not been charged for.
- Powell's attendance follows recent tensions with the administration, including a DOJ subpoena related to a Fed headquarters renovation, underscoring ongoing conflicts over Fed independence.
- Bessent emphasized the importance
