Business
Bessent Doubles Down on FSOC’S New Deregulatory, Pro-growth Agenda
Treasury Secretary Scott Bessent is testifying before Congress, and he’s reinforcing his new approach to financial stability.
In prepared remarks before the House Financial Services Committee, Bessent said that the financial watchdog–Financial Stability Oversight Council (FSOC)–is paring back existing regulations and centering its efforts on economic growth and security.
“Going forward, regulation and supervision should address material risks, enhance transparency, and reduce unnecessary burdens—particularly for community banks,” he said.