According to Deep Tide TechFlow news, on August 27, U.S. Treasury Secretary Bessent again called on Federal Reserve Chairman Powell to conduct an internal review of the Federal Reserve, and to include the mortgage fraud allegations against Federal Reserve Governor Cook in the review. In an interview with Fox Business Channel, Bessent stated, “I encourage Chairman Powell to conduct an internal review before proceeding with an external review.”
“This is something that needs to be addressed,” he referred to the Cook incident. Bessent stated, “We did not hear her say ‘I didn’t do it,’ she just kept saying the president cannot remove her.” He expressed his view that “if a Federal Reserve official has committed mortgage fraud,” they should not serve in one of the main financial regulatory agencies in the United States. “The Federal Reserve is an irresponsible institution, and its relationship with the American people relies on a high level of trust, and events like this undermine that trust.”