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Fed & yields

Treasury Secretary Questions Fed’s Spending and Scope

Treasury Secretary Questions Fed’s Spending and Scope

Scott Bessent says the Federal Reserve should undergo a full review of its non-core functions to prevent “mission creep” from weakening its monetary policy independence.

He also questioned the Fed’s choice to begin a large renovation project during a time of financial losses, adding to concerns about accountability and transparency.

Eight more from the desk

Other dispatches from the bullion wire.