BREAKING: Treasury Sec. Bessent Shuts Down Media Spin on Trump vs. Fed Spending

BREAKING: Treasury Sec. Bessent Shuts Down Media Spin on Trump vs. Fed Spending

Treasury Secretary Scott Bessent embarrassed Kristen Welker after she tried comparing President Trump’s privately funded White House renovations to the Federal Reserve’s massive budget overrun, making clear the White House work is paid with private money while the Fed is $1.5 billion over budget using what he called “magic money.” Bessent said the Fed prints its own money, operates with little oversight, and has ignored repeated calls for an internal investigation, adding that inquiries — even from the Justice Department — have gone unanswered, underscoring the need for transparency and accountability.