US Treasury Secretary Scott Bessent called Monday for the Federal Reserve to conduct an “exhaustive internal review of its non-monetary policy operations,” accusing the central bank of “significant mission creep.

U.S. Treasury Secretary Scott Bessent said the Federal Reserve's vital independence on monetary policy is threatened by its "mandate creep" into non-policy areas and he called on the U.S. central bank to conduct an exhaustive review of those operations.

The Trump administration has been turning up the heat on Fed Chair Jerome Powell, who has held interest rates steady this year.