Scott Bessent called for sweeping change at the World Bank and International Monetary Fund, claiming they needed to reconnect with their missions, faulting their dealings with China.  Treasury secretary Scott Bessent,

U.S. Treasury Secretary Scott Bessent on Wednesday called on the International Monetary Fund and World Bank to refocus on their core missions of macroeconomic stability and development, arguing that they have strayed too far into vanity projects such as climate change that have reduced their effectiveness.

Treasury Secretary Scott Bessent has assailed the International Monetary Fund and the World Bank even as he tries to reassure nervous investors the United States will maintain its global leadership role.

US Treasury secretary Scott Bessent on Tuesday warned that the US-China trade war was “not sustainable” and that the countries would have to de-escalate their dispute, in comments that buoyed financial markets hoping for a trade deal.