Bessent Says Powell's Attendance at Supreme Court Arguments Was 'a Mistake'

Treasury Secretary Scott Bessent said on Tuesday that it was a mistake for Federal Reserve Chair Jerome H. Powell to attend Supreme Court oral arguments this week over whether President Trump has the authority to remove Fed governor Lisa D. Cook. Mr. Bessent made the remark speaking to CNBC on the sidelines of the World Economic Forum in Davos, Switzerland.

“If you’re trying not to politicize the Fed, for the Fed chair to be sitting there trying to put his thumb on the scale is a real mistake,” Mr. Bessent said. The arguments concern Mr. Trump’s attempt to remove Ms. Cook, who sued after the president tried to oust her in August, arguing that the law establishing the Fed permits dismissal only “for cause.” Mr.

Powell’s attendance comes after a recent confrontation with the administration: he released an extraordinary video message last week after the Justice Department sent the central bank grand jury subpoenas seeking information about a $2.5 billion renovation of the Fed’s headquarters in Washington.

Mr. Bessent said he valued Fed independence and, when asked about the criminal investigation and Mr. Trump’s attempts to fire Ms. Cook, added, “There still needs to be accountability.” Mr. Bessent himself attended Supreme Court arguments in November when the court heard a case over Mr.

Key Topics

Politics, Scott Bessent, Jerome Powell, Lisa Cook, Supreme Court, World Economic Forum