Bessent says White House may ‘veto’ Fed presidents under a new residency rule
‘Vetoing’ regional bank presidents would represent another effort by the Trump administration to exert more control over the Fed.
Treasury Secretary Scott Bessent said Wednesday he would push a new requirement that the Federal Reserve‘s regional bank presidents live in their districts for at least three years before taking office, a move that could give the White House more power over the independent agency.
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