Bessent to push new residency rule for regional Fed heads | Metals Mine

  • Bessent to push new residency rule for regional Fed heads

    From investmentnews.com

    Treasury Secretary Scott Bessent on Wednesday said he will push for a new rule that candidates for regional Federal Reserve presidents must have lived in that district for at least three years. The idea is the latest push by Bessent for a sweeping shakeup of the US central bank — which he has repeatedly accused of mission creep and having strayed from its primary mandate of setting monetary policy. “I do believe that there is now a disconnect from the original framing” of the Fed, Bessent said in a discussion at a New York Times event. The US central bank, set up more than a century ago, established a board of ... (full story)

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traderathome
Dec 3, 2025 6:16pm
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Bessent might be a wacko, just like Trump.... having no idea what the real problems are nor how to solve them. So, time is spent and money is wasted making changes to look busy and to exercise authority they might not even have, in hopes it will stick and our democracy will bend to accommodate their lust for power and personal wealth. The country is not at all what it was a century ago. What reasons then that a "Fed Head" needed to live in the same city as the local Fed bank, hardly apply today. Personal character and aptitude matter! Of course, Bessent and Trump rank low. So, they would not understand. It is "Who is lessor than even us, and that we can control?" Well, when Trump is gone and hung, and the worst of his gang with him, all can be undone and put right again.
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