Bessent says Powell attending Supreme Court arguments on Lisa Cook is a mistake
Federal Reserve Chairman Jerome Powell should not participate in Supreme Court arguments regarding President Donald Trump’s efforts to oust one of the central bank governors, Treasury Secretary Scott Bessent said Tuesday.
CNBC reported Monday, citing a person familiar with the matter, that Powell plans to appear at oral arguments in a case challenging Trump’s authority to remove governor Lisa Cook.
“I actually think it was a mistake,” Bessent told CNBC’s Joe Kernen at the World Economic Forum in Davos, Switzerland. “If you’re trying not to politicize the Fed, it’s a mistake for the Fed chairman to sit there and try to put his finger on the scale.”
Trump announced in August that he would fire Cook from the Fed board due to mortgage fraud allegations. However, Cook continues to work at the central bank. Trump also threatened to fire Powell on multiple occasions.
Bessent’s comments came after Powell released a rare video statement revealing he was under criminal investigation.
“This new threat is not about my testimony last June or the renovation of the Federal Reserve buildings. It is not about Congress’s oversight role; the Fed has made every effort to keep Congress informed about the renovation project through testimony and other public statements. These are pretexts,” Powell said. he said. January 11 statement.
