Bostic: To ensure the future and the stability of the U.S. economy, the Federal Reserve must reestablish its credibility as an independent institution.

ChainCatcher news, according to Golden Ten Data citing The Wall Street Journal, U.S. Treasury Secretary Bessent stated that in order to ensure the future and stability of the U.S. economy, the Federal Reserve must reestablish its credibility as an independent institution.

There must be an honest, independent, and nonpartisan review of the entire institution, including monetary policy, regulation, communication, staffing, and research. Looking ahead, the Federal Reserve must reduce its distortions to the economy.