Treasury Secretary Scott Bessent argued in a speech that the multilateral economic institutions have veered away from their missions.

Bessent said the Trump administration would not seek to retreat from those institutions but instead push to play a stronger leadership role and push for major changes to those ins

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.