US Treasury Secretary Scott Bessent weighed in on the latest Fed drama, pointing to the "fear-mongering" around tariffs and the potential for higher inflation.

Good morning. The US Treasury secretary calls for a review of the Federal Reserve’s renovation of its headquarters. The Bank of England is said to be considering shelving plans for a digital pound. And Victoria Beckham’s fashion company is on the road to profitability.

U.S. Treasury Secretary Scott Bessent on Monday called on the Federal Reserve to conduct an exhaustive review of its non-monetary policy operations to ensure that "mission creep" does not jeopardize the independence of its core monetary policy mission.

The S&P 500’s record close comes despite the Trump administration’s beef with the Federal Reserve and its use of tariffs as a bargaining tool.

The Fed should be reviewed, citing what the Treasury secretary called “fearmongering over tariffs” despite the emergence of little, if any, inflationary effect.

Donald Trump is reportedly fuming over a Wall Street Journal report claiming Treasury Secretary Scott Bessent talked him out of firing Fed Chair Jerome Powell. While Trump dismissed the account, CNBC’s Andrew Ross Sorkin says a new strategy may be emerging: naming a “shadow Fed chair” ahead of Powell’s term ending in May.

The S&P 500’s record close comes despite the Trump administration’s beef with threats on the Fed and its use of tariffs as a bargaining tool.

President Donald Trump on Sunday disputed a Wall Street Journal story alleging that Treasury Secretary Scott Bessent urged him to avoid firing Federal Reserve Chair Jerome Powell partly over concerns about the impact of his potential removal on the U.S. economy, declaring that he knows “better than anybody what’s good for the Market.”