Bessent: Fed heads should come from districts they represent
US Treasury secretary says measure would not be applied retroactively
Scott Bessent has said the presidents of regional Federal Reserve banks should come from the districts they represent.
Speaking at the New York Times’ DealBook Summit on December 3, the US Treasury Secretary said three of the 12 current regional presidents had deep ties to New York, with two working at the New York Fed and a third coming from an investment bank in the city.
“Do they represent their district?” he asked. Bessent said he would begin advocating that regional presidents must have lived
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