Posted on 07/22/2025 7:37:35 AM PDT by RandFan
Treasury Secretary Scott Bessent on Monday suggested a review of the Federal Reserve that would go beyond the current controversy over building renovations and look at its overall function.
“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.”
The comments come amid an intensifying conflict between the White House and the central bank. It was not clear what form a review would take or who would perform it.
Last week saw conflicting reports over whether President Donald Trump was preparing to fire Fed Chair Jerome Powell. Reports from the White House indicated a move was forthcoming, but Trump soon after denied he is readying what would be a legally questionable maneuver.
Bessent has been at the center of the controversy, both as a potential successor at the Fed as well as reports pointing to the Treasury chief as a mediator looking to discourage Trump from ousting Powell.
“President Trump solicits a whole range of opinions and then makes a decision,” Bessent said when asked about a Wall Street Journal report that he had helped convince Trump to stay his hand on Powell. “So he takes a lot of inputs, and at the end of the day it’s his decision.”
Trump has demanded the Fed dramatically lower its benchmark overnight borrowing rate, something that appears unlikely regardless of the chair.
(Excerpt) Read more at cnbc.com ...
It’s been awful since 1913. Burn it down.
At least Audit the Fed...
Audit the Fed. They receive taxpayer money and should be subjected to scrutiny.
They don't, actually.
They’ve completely trashed the dollar
But are they the “real” set of books?
Maybe the next Fed chairman will welcome CBDC, who knows.
It would be ironic if the Federal Reserve - an organization created to serve the power of global bankers, not ‘the people’ - ends up being a bulwark against CBDC and the digital slavery that will result.
They do if they want $2.5 billion for renovations.
They receive taxpayer money
Why wouldn’t they be?
The fed receives its income through interest paid on government securities, like treasury bonds.
The Federal Reserve is the central banking system of the United States and is run by a board of governors that oversees 12 regional Federal Reserve Banks. Its primary goals are to regulate the nation’s private banks and manage the overall money supply to keep inflation and the employment rate stable.
The Federal Reserve Board is accountable to the U.S. Congress, not the president.
The federal reserve is not a private business, though they like to think they are; yes, it is past time to put them under a microscope.
I can give 40 trillion reasons.
The FED involves itself solely with counterfeit ‘money
/ THAT !!
conspiracy to defraud.
Revoke their charter.
Repudiate the fake criminal unconstitutional debt.
Return to interest free unencumbered honest money.
Love your attitude on this
Do you know anything about the history of the Fed?
I’m trying to figure out why anyone at all would try to defend the fed? It is very highly unusual for anyone to even do that...
WOWIE!!!!
All that, in addition to purchasing U.S. Treasury printed cash/money and placing that money into circulation.
How the Federal Reserve Literally Makes Money
" . . . very little of the Fed's money actually comes from taxpayers or sales of government bonds. Most of it, in fact, emerges right out of thin air."
"The Bureau of Engraving and Printing, an agency of the U.S. Treasury, does the printing. The Fed, for its part, purchases cash from the bureau at cost and then puts it in circulation."
[The Federal Reserve] "gives banks cash in exchange for old, worn-out notes or digital balances held by the banks at the Fed. In this way, the Fed can help banks accommodate changes in demand for banknotes, like those in advance of major holidays or after natural disasters."
"These exchanges are dollar-for-dollar swaps. The Fed does not typically increase the monetary base - the total amount of currency in circulation and reserves held by banks at the central bank - when it distributes new banknotes."
" . . . the Fed purchases a government bond from a bank or makes a loan to a bank, it does not have to - and usually doesn't - pay with cash. Instead, the Fed just credits the selling or borrowing bank's account."
"The Fed does not print money to buy assets because it does not have to. It can create money with a mere keystroke."
"So as the Fed buys Treasuries, mortgage-backed securities, corporate debt and other assets over the coming weeks and months, money will rarely change hands. It will just move from one account to another.
"To put more money into circulation, the Fed typically purchases financial assets . . ."
" . . . the Fed buys Treasuries, mortgage-backed securities, corporate debt and other assets over the coming weeks and months, money will rarely change hands. It will just move from one account to another."
The Federal Reserve can make a profit from some sales of assets that it has purchased.
FED also gains with "2% target inflation", aka theft, aka ballooning the money supply.
The Federal Reserve is the central banking system of the United States and is run by a board of governors...
FED is a corporation, owned by elite families (Morgan's, Rothschilds and others) and another 300 stockholder Banksters.
The federal reserve is not a private business...
Yes it is, albeit with a veneer of legality based on the December 23, 1913 Banking Act, nicknamed "Christmas Heist" or "Christmas Swindle", as it was signed when many opponents had left DC.
Another thing that may be of interest here, I just became aware of this in the last week: The presidential election of 1912 was about many things (Tariffs, and other things), and banking was not the top issue, however the 3 main candidates were ALL for a central bank, the two "competing" plans, the Aldrich Plan and the FED plan were essentially the same. These candidates were T Roosevelt (BullMoose Party), Taft (Repub) and Wilson ('dem). The 4th candidate, the only major party opposed to a private central bank was Debs, the Socialist Party. He wanted a central bank just the same, just going for broke for governmental control of bankstering.
We were getting a FED any which way you look at 1910-1914 when it was put in place to poison the financial system.
“It’s been awful since 1913. Burn it down.”
And their collection agency the IRS.
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