🌐🇺🇸U.S. Treasury Secretary Scott Bessent Suggests Fed Could Cut Interest Rates by 0.50% in September

📰Washington, D.C – U.S. Treasury Secretary Scott Bessent has recommended that the Federal Reserve consider lowering interest rates by 0.50% in September.

Bessent stated that the Fed could have potentially started rate cuts as early as June if it had more accurate and clear economic data. He emphasized that the current lack of precise economic information is a key issue facing the Fed today.

In an interview with Fox Business on Tuesday, Bessent also commented on the selection of a new Fed Chair during President Trump’s administration. He noted that Trump had an “open-minded” approach to the selection process and sought a leader capable of truly reforming the Fed. Bessent expressed hope that Stephen Miran, nominated by Trump as a Fed governor, would gain approval from Congress.

Regarding U.S.-China relations, Bessent revealed plans to meet with Chinese representatives within the next 2–3 months. He added that the U.S. government is “resolving multiple issues together with China” and emphasized that “Trump has an excellent relationship with Chinese President Xi.”

On the potential issue of tariff lawsuits, Bessent said that if a court rules that the tariffs are unlawful, the government would “immediately suspend enforcement of those tariffs.”

Source: Yahoo Finance

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