TechFlow news, August 27 — According to Jinshi Data, U.S. Treasury Secretary Bessent on Wednesday again urged Federal Reserve Chair Powell to conduct an internal review of the Fed, including the mortgage fraud allegations against Fed Governor Cook. Speaking in an interview with Fox Business, Bessent said: "I encourage Chair Powell to conduct an internal review before any external review."
"This is something that needs to be addressed," he said, referring to the Cook incident. Bessent stated: "We haven't heard her say 'it wasn't me'; she just keeps saying the president can't fire her." He added that in his view, "if a Federal Reserve official is guilty of mortgage fraud," they should not serve at one of the nation's key financial regulators. "The Fed is an institution that operates without accountability, and its relationship with the American people depends on a high degree of trust, and events like this undermine that trust."
