US treasury department demands retraction of story on increased oversight of Federal Reserve
Source: The Guardian
Sat 28 Mar 2026 16.58 EDT
First published on Sat 28 Mar 2026 12.26 EDT
The US treasury department demanded on Friday that the Financial Times (FT) retract a report on treasury secretary Scott Bessent’s views on the Federal Reserve, accusing the newspaper of publishing “false claims” in a formal complaint escalated to the outlet’s parent company, Nikkei Inc.
The email from treasury officials, addressed to senior editors at the FT and Nikkei, disputed multiple claims in the story and criticized the headline as misrepresenting the underlying reporting. The FT reported on 26 March that Bessent had discussed increasing oversight of the Federal Reserve in a way that resembled the Bank of England, including through regular communication between its governor and Britain’s chancellor over inflation targets.
Treasury officials denied that Bessent had endorsed such views or discussed adopting similar practices in Washington. They also took issue with the headline, which said Bessent had “praised” the Bank of England model for tighter oversight even though that did not appear in the text of the story.
“The Secretary has never made any of the above statements in public or private,” the acting assistant secretary for public affairs, Elliott Hulse, wrote in the email, which was forwarded to the Guardian by a person directly familiar with the matter on the condition of anonymity.
Read more: https://www.theguardian.com/us-news/2026/mar/28/treasury-department-financial-times-federal-reserve
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