Treasury Secretary Scott Bessent is doing something that feels almost retro in Washington: respecting institutional boundaries. In recent remarks, Bessent reiterated that he will not speculate on the Federal Reserve’s next moves, while noting that raising rates into a supply shock is an unusual policy choice.
A deliberate wall between Treasury and the Fed
Bessent, who was sworn in as the 79th US Treasury Secretary on January 28, 2025, has made non-interference with Fed policy something of a personal brand. In a February 2025 Bloomberg TV interview, he laid down the marker clearly.
“Prospectively, monetary policy, I will not comment on. There will be no criticism.”
That line has held. Across multiple interviews spanning more than a year, Bessent has consistently avoided forward-looking commentary on rate decisions. This represents a meaningful departure from the previous administration, which frequently and publicly pressured the Fed to cut rates.
