Summary of Key Points from U.S. Treasury Secretary Yellen's House Hearing

Wallstreetcn
2026.02.04 18:49

  1. A heated confrontation. The atmosphere at the hearing became very intense at times, especially during the opening questioning session. Maxine Waters, the chief Democratic member of the House Financial Services Committee, at one point demanded that Bessent "shut up," while Democratic Representative Greg Meeks from New York accused Bessent of acting as President Trump's "lapdog."

  2. The issue of the Federal Reserve's independence. When asked whether the president could replace Federal Reserve governors due to policy disagreements, Bessent refused to draw a clear line. He stated that he is not a lawyer and that the government needs to wait for the Supreme Court to make a final ruling on such legal issues

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