US Treasury Secretary Bernt's latest interview: Urging the Federal Reserve to thoroughly examine internal affairs and exclude plans to invest in NVIDIA Corporation (NVDA.US)

U.S. Treasury Secretary Benson once again urged Chairman Powell of the Federal Reserve to conduct an internal review, and stated that the allegations of mortgage fraud against Federal Reserve Board member Cook should be included in the scope of the review. Benson said in an interview on Wednesday: "I have previously encouraged Chairman Powell to conduct an internal review before starting an external review." Referring to the Cook incident, he pointed out: "These issues must be addressed." Previously, the U.S. government accused Cook of mortgage fraud, and President Trump took action on Monday, trying to dismiss him from the position of Federal Reserve Board member. Cook's lawyer plans to file a lawsuit against this action. "We have never heard her say 'I did not do it' - she just repeatedly emphasized that the President does not have the right to dismiss her," Benson said. He believes that "if Federal Reserve officials are involved in mortgage fraud, they should not continue to serve in this key U.S. financial regulatory agency." "The Federal Reserve is an institution lacking accountability mechanisms, and its relationship with the American people is built on high trust, and such incidents will seriously undermine that trust." When asked if firing Cook was one of Trump's plans to ensure his nominees dominate the Federal Reserve Board, Benson said, "All Federal Reserve Board members remain independent." Federal Reserve Voting Situation The current Federal Reserve Board members include Waller and Bowman, both of whom were nominated during Trump's first term. In addition, Trump has nominated White House chief economist Stephen Milley to fill a vacant position on the seven-member Federal Reserve Board. Benson stated that the government will not interfere with the voting decisions of Waller and Bowman. In last month's Federal Reserve policy decision, these two board members voted against - they advocated rate cuts, while other voting members tended to keep rates unchanged. Benson also revealed that the search for Powell's successor is still ongoing (Powell's term as Federal Reserve Chairman will end in May next year). He added that he will interview candidates after the Labor Day holiday and then submit a list of 3 to 4 candidates to Trump with other government officials. He said that Trump's final choice "will definitely be determined this fall." The Treasury Secretary also pointed out that since the 2008 financial crisis, the Federal Reserve "has deviated from its core mission of formulating monetary policy" and that the institution "needs to return to this core mission." No intention to invest in NVIDIA Corporation Furthermore, in response to speculation that the U.S. government may follow the model of investing in chip maker Intel Corporation (INTC.US) by investing in other companies, Benson stated that the government is "not currently considering" holding shares in NVIDIA Corporation (NVDA.US). Benson said: "I believe NVIDIA Corporation does not currently need financial support, so the idea of holding its shares at this stage is not part of the discussion." However, Benson mentioned that the government may still consider holding shares in companies in other industries. He said: "In some industries that we are currently transforming - like shipbuilding - is there a possibility of this happening? Of course, it is not ruled out that there may be similar situations." Previously, the Trump administration announced last week that it would hold nearly 10% of Intel Corporation's shares. In June of this year, the government also intervened in the acquisition of United States Steel Corporation by Nippon Steel, holding what Trump called "golden shares" - this ownership arrangement gives the U.S. government a say in the operation of the company.