Treasury Secretary Scott Bessent appeared before the House Financial Services Committee for a live hearing on the annual Financial Stability Oversight Council report.

By yourNEWS Media Newsroom

Treasury Secretary Scott Bessent testified Wednesday before the House Financial Services Committee during a live hearing focused on the U.S. economy and financial stability. The committee convened to review the annual report of the Financial Stability Oversight Council (FSOC), a panel tasked with monitoring risks to the U.S. financial system and coordinating responses across federal agencies.

During the session, committee members questioned Bessent on a range of economic and fiscal issues, including inflation trends, banking sector resilience, credit availability, and national debt levels. Lawmakers from both parties used the hearing to press the Treasury Secretary on current economic conditions, projections for growth, and how federal policies are mitigating emerging risks.

The FSOC annual report, which forms the basis for the hearing, assesses vulnerabilities in the financial system and provides recommendations to strengthen oversight and reduce systemic risk. Topics typically addressed in the report include bank capital requirements, asset valuations, nonbank financial intermediaries, and stress testing results.

Bessent’s testimony also touched on broader concerns such as the impact of monetary policy, global economic pressures, and the role of regulatory frameworks in safeguarding stability without stifling growth.

The hearing was streamed live for public viewing and is accessible in the video above. Committee members are expected to follow up with additional inquiries and legislative proposals based on insights gathered during the testimony.

Original article
Add as a preferred source on Google