Treasury Secretary Scott Bessent said in an interview Monday the entire Federal Reserve needs to be reviewed.

“What we need to do is examine the entire Federal Reserve institution and whether they have been successful,” Bessent said on CNBC’s “Squawk Box.” “Has the organization succeeded in its mission? If this were the FAA [Federal Aviation Administration] and we were having this many mistakes, we would go back and look at why has this happened.”

Bessent’s comments come amid intense criticism of Federal Reserve Chair Jerome Powell by President Donald Trump for not lowering interest rates.

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