US Treasury Secretary Calls on Federal Reserve for Internal Review, Specifically Naming Cook Mortgage Fraud Issue

Jinse Finance reported that U.S. Treasury Secretary Bessent once again called on Federal Reserve Chairman Powell on Wednesday to conduct an internal review of the Federal Reserve and to include the mortgage fraud allegations against Federal Reserve Governor Cook in the scope of the review. In an interview with Fox Business Channel, Bessent said: "I encourage Chairman Powell to conduct an internal review before proceeding with an external one." "This is something that needs to be addressed," he said, referring to the Cook incident. Bessent stated: "We haven't heard her say 'it wasn't me,' she just keeps saying the President can't remove her." He expressed his view that "if a Federal Reserve official is guilty of mortgage fraud," they should not serve at one of America's primary financial regulatory agencies. "The Federal Reserve is an unaccountable institution, and its relationship with the American people relies on a high degree of trust, and incidents like this undermine that trust."