Gate News message, April 21 — Bessent, the nominee for Federal Reserve chair, stated he will operate independently from President Trump. He expressed uncertainty about Trump’s reasons for selecting him, noting that after divesting assets, he plans to reallocate funds into compliant assets as close as possible to short-term Treasury bills and cash.
Bessent emphasized that the Federal Reserve’s independence depends on the Fed itself, and observed that presidents typically favor interest rate cuts.
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