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The Fed Needs Some 'Serious Overhaul,' Says Bessent Counselor Lavorgna
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August 27, 2025
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8:08Now PlayingJoe Lavorgna, counselor to Treasury Secretary Scott Bessent, said President Trump wants to bring accountability to the Federal Reserve and that's not encroaching on the central bank's independence
Treasury Secretary Scott Bessent repeated his call for Federal Reserve Chair Jerome Powell to conduct an internal review of the central bank, and referred to mortgage-fraud allegations about Fed board member Lisa Cook as the type of thing that should be included.
“I’ve encouraged Chair Powell to do this on an internal basis before there is an external review,” Bessent said in an interview with Fox Business on Wednesday. “This is the kind of thing that needs to be addressed,” he said, referring to the Cook matter.
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