Besant blasts The Financial Times of the UK: Claims that the Federal Reserve will follow the Bank of England's reforms are false gossip from tabloids.

BlockBeats News, on March 27, the UK Financial Times (FT) previously reported that U.S. Treasury Secretary Yellen has discussed with market participants the possibility of strengthening the U.S. Treasury Department’s oversight of the Federal Reserve by drawing on elements from the Bank of England model. This move would disrupt the relationship between the Federal Reserve and the government. Currently, Trump has launched an unprecedented attack on the world’s most important central bank.

Yellen responded to this news by criticizing the UK Financial Times, stating: “This is a complete false report. FT has entirely become a gossip tabloid for market participants. Although I have publicly and clearly denied advocating, discussing, or supporting using the Treasury-UK Bank of England charter as a model for the Treasury-Fed relationship, FT’s reporters still fabricated an article titled ‘Yellen praises the Bank of England as a model for strengthening Fed oversight.’ These sad reporters clearly invented a story aimed at creating the impression that I and the Trump administration are working to reconstruct this relationship. Meanwhile, President Trump has launched an unprecedented attack on the world’s most important central bank. In short, FT has completely fabricated a false policy stance for me and this administration. Besides further promoting the malicious and mistaken narrative of ‘systemic dysfunction and mutual opposition,’ it is truly puzzling why they would damage their already compromised journalistic credibility.”