Scott Bessent Calls for Ban on Congressional Stock Trading Amid ’Eye-Popping’ Returns

Scott Bessent, a prominent financial figure, has criticized the stock trading practices of U.S. lawmakers, claiming their returns outperform most hedge funds. He singled out Nancy Pelosi and RON Wyden, questioning the credibility of Congress. "The American people deserve better than this," Bessent asserted, lending momentum to bipartisan legislative efforts to ban single-stock trading by elected officials.

The push for reform gains urgency as pressure mounts on both Republicans and Democrats to act. Treasury Secretary Janet Yellen's recent stance may tip the scales, though resistance persists even within parties. Florida Congresswoman Anna Paulina Luna aims to force a September vote via discharge petition, while House Speaker Mike Johnson actively opposes the move. The issue has sparked private concerns among lawmakers during the August recess, hinting at a contentious battle ahead.