Treasury Secretary Scott Bessent excoriated the Financial Times on Thursday, calling the British newspaper “tabloid trash” and accusing its journalists of fabricating a story claiming he had praised the Bank of England’s governance structure as a model for tightening oversight of the Federal Reserve.
The FT reported Wednesday that Bessent had discussed adopting elements of the BoE’s relationship with the UK Treasury — including a system of formal letter-writing between the central bank governor and the chancellor of the exchequer — as a template for restructuring the Fed’s relationship with the U.S. government. The story attributed the claim…
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