US treasury department demands retraction of story on increased oversight of Federal Reserve

Treasury department said Financial Times article about Scott Bessent’s views on Fed oversight was ‘manufactured’

The US treasury department demanded on Friday that the Financial Times (FT) retract a report on treasury secretary Scott Bessent’s views on the Federal Reserve, accusing the newspaper of publishing “false claims” in a formal complaint that was escalated to the news outlet’s parent company, Nikkei Inc.

The email from treasury officials, addressed to senior editors at the FT and Nikkei, disputed multiple claims in the story and criticized the headline as misrepresenting the underlying reporting.