**[U.S. Treasury Secretary Besent Criticizes the Federal Reserve's Interest Rate Management Mechanism]** According to a report by Jinse Finance, U.S. Treasury Secretary Besent stated on Tuesday that the Federal Reserve's interest rate management mechanism is struggling and needs to be simplified. Besent said, "We have reached a point where monetary policy has become extremely complex," and the Federal Reserve should "simplify the complex." "The Federal Reserve has brought us into a new system, the so-called ample reserves regime. From the perspective of whether reserves are ample, this mechanism seems to be loosening," Besent said. However, Besent did not clarify what he meant by "loosening." Besent has been a consistent critic of the Federal Reserve, expressing particular concern over its massive balance sheet. Besent, along with others, including some within the Federal Reserve, believes that the large balance sheet distorts market pricing levels. Additionally, the complex way the Federal Reserve manages interest rates is also worrisome, as it relies on liquidity tools and abandons the highly managed system used before the financial crisis nearly 20 years ago. (Jin10)