Federal Reserve Chairman Kevin Warsh said on Wednesday that he speaks frequently with Treasury Secretary Scott Bessent outside their regular weekly meetings, and, according to CNBC, defended the central bank's independence.
Key facts
- Fed Chairman Kevin Warsh spoke publicly on Wednesday, 15 July 2026.
- Warsh said he speaks with Treasury Secretary Scott Bessent frequently.
- The conversations occur outside their regular weekly meetings.
- CNBC reported that Warsh defended the Federal Reserve's independence.
- The remarks were reported by CNBC.
Federal Reserve Chairman Kevin Warsh said on Wednesday that he speaks frequently with Treasury Secretary Scott Bessent, outside the two officials’ regular weekly meetings, according to CNBC.
CNBC reported that Warsh made the comments while defending the central bank’s independence.
The Federal Reserve and the Treasury Department regularly coordinate on matters affecting the US economy while maintaining distinct roles.
The Federal Reserve is designed to operate independently of the executive branch.
No further details of the discussions between Warsh and Bessent were provided in the CNBC report.
Why it matters
The independence of the Federal Reserve from political influence is a longstanding principle intended to insulate monetary policy from short-term political pressures. A Fed chairman's remarks about the frequency of his contact with a senior administration official draw attention to the balance between routine coordination and preserving that independence.
Frequently asked questions
Who did Warsh say he meets with often?
Warsh said he speaks frequently with Treasury Secretary Scott Bessent, in addition to their regular weekly meetings, according to CNBC.
When did Warsh make these comments?
He made the remarks on Wednesday, July 15, 2026, as reported by CNBC.
Did Warsh address the Fed's independence?
Yes. According to CNBC, Warsh defended the Federal Reserve's independence while acknowledging his frequent contact with the administration.