Scott Bessent Slams The Federal Reserve For Losing $100 Billion A Year Due To 'Mistimed Asset Purchases' — Calls For Greater 'Accountability'

U.S. Treasury Secretary Scott Bessent criticized the Federal Reserve for several ethical lapses and policy missteps, which he said have resulted in losses amounting to several billion dollars a year. Bessent Slams Fed’s ‘Mistimed Asset Purchases’ On Tuesday, Bessent said the Federal Reserve was losing $100 billion a year due to “mistimed asset purchases,” referring to the operating losses linked to bond purchases made during the pandemic and the sharp increase in interest rates that followed, during an i ...