Bessent is not entirely wrong about the Fed, but at the same time the post GFC era is known for fiscal restraint and the birth of the Tea party movement. The Fed's excessive monetary easing was in part a response to inadequate fiscal expansion after a catastrophic recession. Many choices led to what became prolonged QE as the authorities tried to heal a wound with pure monetary policy. And we ultimately saw that QE was the wrong tool. Central bankers around the world have agreed and said the same in the years since Covid. They're not eager to use it again any time soon.(𝐓𝐗𝐌𝐂)