Treasury Secretary Scott Bessent said Wednesday he would push a new requirement that the Federal Reserve's regional bank presidents live in their districts for at least three years before taking office, a move that could give the White House more power over the independent agency.
In comments at the New York Times' DealBook Summit, Bessent said that “there is a disconnect with the framing of the Federal Reserve” and added that, “unless someone has lived in their district for three years, we're going to veto them.”
