Treasury Secretary Scott Bessent has responded angrily to The Financial Times, calling the story "explicitly false" about his plans for the future of the Federal Reserve. Besset stated that he had previously denied the premise of the story and had previously written a comprehensive analysis of potential reforms for the Federal Rate. He also accused the Financial Times of fabricating a story to create a perception that both he and the Trump Administration are setting about restructuring the relationship with the Fed at a time when President Donald Trump has launched an unprecedented assault on the world's most important central bank.