Yellen Spoke With Bessent After Nomination, Has Fiscal Regrets
- Outgoing Treasury chief expresses regret on fiscal front
- Yellen reiterates warning on Fed independence, broad tariffs
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Outgoing Treasury Secretary Janet Yellen said that she spoke with President-elect Donald Trump’s nominee to be her successor, Scott Bessent, after he was tapped for the job.
Yellen said Tuesday that she told Bessent, a veteran hedge-fund manager, about the breadth of the job and strength of the department’s staff, in a call before Thanksgiving. Separately, she reiterated previous warnings against encroaching on Federal Reserve independence and on broad tariff hikes, while expressing regrets on the fiscal situation.