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Treasury Secretary Scott Bessent Faces Backlash for Criticizing Reporter's Fed Reporting

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Treasury Secretary Scott Bessent Faces Backlash for Criticizing Reporter's Fed Reporting
U.S. Treasury Secretary Scott Bessent faced widespread criticism after publicly attacking Wall Street Journal reporter Nick Timiraos for a report detailing his role in using the Federal Reserve to support Japan's yen defense. Bessent's X post mocked Timiraos for reporting on the Trump-appointed Federal Reserve chairman Kevin Warsh, calling the reporter's coverage 'backroom gossip' and accusing him of lacking the ability to perform real economic analysis. The report highlighted Bessent's use of the Fed's backstop to fund Japan's yen defense, a move critics argued was outside the institution's intended purpose. While Bessent's comments sparked debate, prominent economists and former officials condemned his public criticism of the media, with some calling it unbecoming of a Treasury Secretary. The backlash included remarks from academics like Justin Wolfers and journalists like John Harwood, who criticized Bessent's tone and approach. The incident underscores tensions between political figures and media scrutiny, particularly in the context of the Trump administration's handling of economic policy and international financial strategies.
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August 5, 2026 at 11:22 PM