Bessent to push residency requirement for regional US Fed bank presidents

Al JazeeraEN 2 min read 100% complete by By AP and ReutersDecember 3, 2025 at 08:42 PM

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In December 2025, Treasury Secretary Scott Bessent announced a plan to require Federal Reserve regional bank presidents to reside in their districts for at least three years before taking office. Bessent stated this was due to a "disconnect" with the framing of the Federal Reserve. This proposal follows criticism from the Trump administration regarding the Fed's interest rate policies, with President Trump advocating for quicker rate cuts. The move is seen as an attempt by the administration to exert greater influence over the traditionally independent Federal Reserve system. The Fed's structure includes a board of governors and 12 regional banks, designed to incorporate diverse economic perspectives into monetary policy decisions.

Key Entities & Roles

Key Player Opposition Context

New York Times 40% Donald Trump ×260% United States Treasury Secretary 70% Scott Bessent ×280% Federal Reserve ×590%

Keywords

federal reserve 100% regional bank presidents 90% political independence 80% interest rate 70% trump administration 60% monetary policy 50% us treasury secretary 40% scott bessent 40%

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Negative

Score: -0.30

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Al Jazeera

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90%

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