The Zhitong Finance App learned that US Treasury Secretary Bessent said on Wednesday that he will push for a new requirement that each regional chairman of the Federal Reserve must reside in his jurisdiction for at least three years before taking office. This move is seen by the outside world as likely to give the White House greater influence in this institution that has traditionally maintained a high degree of independence.

The Zhitong Finance App learned that US Treasury Secretary Bessent said on Wednesday that he will push for a new requirement that each regional chairman of the Federal Reserve must reside in his jurisdiction for at least three years before taking office. This move is seen by the outside world as likely to give the White House greater influence in this institution that has traditionally maintained a high degree of independence.