"What we need to do is examine the entire Federal Reserve institution and whether they have been successful," Bessent told CNBC's Squawk Box.

What we need to do is examine the entire Federal Reserve institution and whether they have been successful,’ says Secretary Bessent.

U.S. Treasury Secretary Scott Bessent on Monday called for deeper reforms of what he called an antiquated financial regulatory system and said regulators should consider scrapping a "flawed," Biden-era proposal for a dual capital requirement structure for banks.

Treasury Secretary Scott Bessent has called for a full review of the Federal Reserve's operations amid rising tensions between the Trump administration and the central bank. “What we need to do is examine the entire Federal Reserve institution and whether they have been successful,

President Donald Trump on Sunday disputed a Wall Street Journal story alleging that Treasury Secretary Scott Bessent urged him to avoid firing Federal Reserve Chair Jerome Powell partly over concerns about the impact of his potential removal on the U.S. economy, declaring that he knows “better than anybody what’s good for the Market.”