(Reuters) -U.S. Treasury Secretary Scott Bessent on Friday called for renewed scrutiny of the Federal Reserve, including its power to set interest rates, as the Trump administration continues its efforts to exert control over a central bank whose insulation from short-term political pressures is widely seen as key to its effectiveness. 

"There must also be an honest, independent, nonpartisan review of the entire institution, including monetary policy, regulation, communications, staffing and research," Bessent wrote in the Wall Street Journal, calling for the Fed to leave bank supervision to other governmental authorities and to "scale back the distortions it causes in the economy," including by bond purchases made outside of true crisis conditions.