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Bessent says up to Trump whether Warsh might be sued for monetary policy choices

BY Reuters | ECONOMIC | 10:48 AM EST

By Michael S. Derby

Feb 5 (Reuters) - U.S. Treasury Secretary Scott Bessent declined on ?Thursday to commit the ?Trump administration to ?not suing Kevin Warsh, ?its ?nominee to be Federal ?Reserve Chair, ?if he follows a monetary path ?opposed by ?the ?president.

Senator Elizabeth Warren asked Bessent in a ?Senate hearing whether Bessent would promise "Warsh will not be sued, will not be ?investigated ?by the Department of Justice, if ?he doesn't cut interest rates exactly the way that Donald Trump wants." Bessent responded "that is ?up to the president." (Reporting by Michael S. Derby; ?Editing by Chizu Nomiyama )

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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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