Senator Elizabeth Warren on Monday expressed concerns over Donald Trump’s nominee to head the Treasury Department, Scott Bessent, suggesting that he may try to undermine the independence of the Federal Reserve. A “shadow Fed chair” – a concept floated by Bessent – would be nominated and confirmed without Senate oversight. This could compromise the central bank’s ability to make decisions free from political influence. Warren warned against such interference, highlighting the importance of maintaining the Federal Reserve’s autonomy in monetary policy decisions.
Source: https://seekingalpha.com/news/4331097-sen-elizabeth-warren-warns-treasury-secretary-nominee-not-to-interfere-with-feds-independence