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Bessent says he has no opinion on Trump authority to fire Fed officials over policy disputes

BY Reuters | ECONOMIC | 01:17 PM EST

WASHINGTON, Feb 4 (Reuters) - U.S. Treasury Secretary Scott Bessent said on Wednesday ?he has no ?opinion on whether ?the president has ?a ?constitutional authority to fire ?a Federal Reserve ?chair or board member because ?of ?a ?monetary policy disagreement, but he considers the central ?bank an independent agency.

Bessent told a U.S. House of Representatives ?Financial Services ?Committee hearing that he was ?also still seeing strong foreign inflows into U.S. Treasury debt, U.S. equities and ?into foreign direct investment into the United States. (Reporting ?by David Lawder)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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