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Fed Chair Nominee Bessent Pledges Independence from Trump, Plans Asset Reallocation

GateNews

2026-04-21 15:05:37

Gate News message, April 21 — Bessent, the nominee for Federal Reserve chair, stated he will operate independently from President Trump. He expressed uncertainty about Trump's reasons for selecting him, noting that after divesting assets, he plans to reallocate funds into compliant assets as close as possible to short-term Treasury bills and cash.

Bessent emphasized that the Federal Reserve's independence depends on the Fed itself, and observed that presidents typically favor interest rate cuts.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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