Treasury Secretary Scott Bessent doesn’t know what the PhDs at the Federal Reserve do. He thinks the Fed is Universal Basic Income for academics.
Bessent suggests it’s time to examine the entire Reserve and see if they have been successful. Well, we’re $37 trillion in debt so maybe not.
The Fed pays roughly half a billion dollars a day in interest and much of it goes to foreign financial institutions. There is room for improvement there.
“What we need to do is examine the entire Federal Reserve institution and whether they have been successful,” Bessent said during an interview on CNBC’s “Squawk Box.” “Has the organization succeeded in its mission? If this were the [Federal Aviation Administration] and we were having this many mistakes, we would go back and look at why has this happened.”
Their fear mongering over tariffs is also a bad look. Europe has lowered their interest rates, but not the Feds.
BREAKING: Treasury Secretary Scott Bessent calls for a FULL INVESTIGATION into the Federal Reserve
YES! DO IT!
AUDIT THE FED! pic.twitter.com/Lat11mMmH0
— Nick Sortor (@nicksortor) July 21, 2025
James Fishback knows. They spend time looking into fake systemic racism. The Fed needs DOGE.
The Federal Reserve has 21,000 people on the payroll. What on earth do they actually do?
Well, here’s just one example: producing “research” on “systemic racism.”@SecScottBessent is right: the Fed is just Universal Basic Income for unemployable economists.
Time to DOGE the… https://t.co/r5U7Ty2LFu pic.twitter.com/wBDofrJkzG
— James Fishback (@j_fishback) July 21, 2025
This isn’t fair. The Fed academics are all so busy fixing up their digs at the Marriner S. Eccles building with a rooftop terrace and fancy conference rooms, water features, new marble, and VIP elevators. They’re trying to keep it under $2.5 billion and still get all those necessities. It’s not easy.
Unfortunately, Jerome Powell said the opposite to Congress and told them they aren’t putting in rooftop terraces, new marble, water features and VIP elevators.
Rep. Luna sent a criminal referral in on him for perjury.
So, they’re all busy.
Scott Bessent seems like a gracious lowkey guy so one has to wonder how bad you have to be to make him this concerned.
Bessent sure is not an establishment lacky, given his positions, though many falsely claim he is. A $2.5B cost would make it the most expensive building in the USA. The only things more expensive are resorts and stadiums! The fed was wrong on tariffs and other trade deals, this time and every time, because they do not serve the USA,… Read more »
“Trust the experts.” Yeah!!! See where that has landed us…
End the fed. Let Ron Paul lead the way.
Sounds like another place to stash unemployable Democrat operatives!!! Especially those trying to sabotage the Trump administration.
End the Fed, indict Jerome Powell, save billions and get a thriving economy. We’ll soon find that ‘systematic government corruption haunts home ownership rates’ and prevents the lower and middle class from getting ahead.
Good analysis.