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Trump admin live updates: Bessent calls for review of Federal Reserve

Last updated: July 21, 2025 1:49 pm
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Trump admin live updates: Bessent calls for review of Federal Reserve
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President Donald Trump is scheduled on Monday to host Vice President JD Vance for lunch at the White House.

The president also continues to face backlash from his MAGA supporters over his administration’s handling of files related to the investigation into Jeffrey Epstein.

Latest Developments

Jul 21, 1:05 PM
Bessent calls for a review of ‘entire Federal Reserve institution’

The Trump administration appears to be calling for a more expanded review on the Federal Reserve.
Treasury Secretary Scott Bessent is now calling for a review of the entire Federal Reserve institution, not just recent building renovations.
“What we need to do is examine the entire Federal Reserve institution and whether they have been successful,” he said during an appearance on Squawk Box on Monday.
This comes as President Donald Trump has sharply criticized the building renovations of the Fed building, using the project to threaten Fed Chair Jerome Powell’s role as he continues to publicly fume over Powell not cutting interest rates.

“I think that we should think, has the organization succeeded in its mission. You know, if this were the FAA and we were having this many mistakes, we would go back and look at why. Why has this happened?” Bessent questioned.
-ABC News’ Lalee Ibssa

Jul 21, 6:58 AM
Trump, Vance to have lunch Monday

President Donald Trump is scheduled on Monday to have lunch with Vice President JD Vance, according to the White House.

Alexander Drago/Reuters - PHOTO: A general view of the White House in Washington, D.C., U.S., July 20, 2025.
Alexander Drago/Reuters – PHOTO: A general view of the White House in Washington, D.C., U.S., July 20, 2025.

The president does not have other events on his public schedule.
-ABC News’ Lalee Ibssa

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