FT says the US is borrowing the UK model to constrain the Federal Reserve, Bessent responds: Fake news from gossip tabloids.

Deep Tide TechFlow News, March 27 — According to Jinshi Data, the Financial Times (FT) previously reported that the US Treasury Secretary Bessette had discussed with market participants the possibility of strengthening the US Treasury Department’s oversight of the Federal Reserve by drawing on elements from the Bank of England model. This move would disrupt the relationship between the Fed and the government. Currently, President Trump has launched an unprecedented attack on the world’s most important central bank. In response to this news, the US Treasury Secretary Bessette criticized FT: “A complete false report. FT has entirely become a gossip tabloid for market participants. Although I have publicly and clearly denied advocating, exploring, or supporting using the UK Treasury’s charter as a model for the Treasury-Fed relationship, FT’s reporters still fabricated an article titled ‘Bessette praises the Bank of England as a model for strengthening Fed oversight.’ These sad reporters clearly made up a story to give the impression that I and the Trump administration are working to ‘restructure this relationship… while President Trump is launching an unprecedented attack on the world’s most important central bank.’ In short, FT has completely fabricated a false policy stance for me and this administration. Besides further promoting that malicious and mistaken narrative of ‘systemic dysfunction and opposition,’ it’s truly puzzling why they would also damage their already compromised journalistic credibility.”