[U.S. Treasury Secretary Besent Seeks to Reform Oversight of the Federal Reserve, Using the Bank of England as a Reference] According to a report by Jinse Finance, on March 26, U.S. Treasury Secretary Besent discussed strengthening the Treasury Department's oversight of the Federal Reserve by borrowing elements of the Bank of England's model. This move could reshape the relationship between the Federal Reserve and the U.S. government. According to informed financial industry executives, Besent has expressed his admiration to market participants for the reforms implemented by the UK government in 1997, which granted the Bank of England operational independence in setting monetary policy. Although both central banks formally maintain independence from their respective governments, the Federal Reserve has greater autonomy in determining how to achieve its congressional mandates of price stability and full employment, as well as in responding to periods of financial instability. Besent has publicly stated that the Federal Reserve should undergo reforms while maintaining its monetary policy independence. Last year, he published a 6,000-word article in *International Economics* criticizing the Federal Reserve's large-scale bond-buying program (quantitative easing) as a "functional monetary policy experiment." He also praised the Bank of England's more cautious response to the 2022 UK bond crisis, contrasting it with the Federal Reserve's continued quantitative easing policies. He believes that the Federal Reserve's quantitative easing measures were a key factor behind the high inflation in the U.S. following the COVID-19 pandemic. (Jin10)