US Treasury Secretary Proposes New Rule for Regional Fed Presidents: Must Reside in District for at Least Three Years

BlockBeats News, on December 3, U.S. Treasury Secretary Bessent stated that he plans to promote a new requirement: before being appointed, the presidents of the 12 regional Federal Reserve Banks must have resided in their respective districts for at least three years. However, the final decision will still rest with the Federal Reserve Chair and the Board of Governors. (Golden Ten Data)