Bessent Calls for Steep Interest Rate Cuts

Bessent Urges Half-Point September Interest-Rate Cut, Targets at Least 1.5 Percent Total Easing

Treasury Secretary Scott Bessent is urging the Federal Reserve to slash interest rates by half a percentage point at its September policy meeting of the Federal Open Market Committee (FOMC), and follow up with a series of reductions to bring borrowing costs down by at least 150 basis points. Bessent told Fox News on Aug. 12 that “fantastic” consumer price data and sharply weaker labor market figures support an aggressive move by Fed officials to…

Treasury Secretary Bessent wants the Fed to lower its lending rate

The current Federal Reserve interest rate is significantly higher than necessary and should be lowered, Treasury Secretary Scott Bessent said on Wednesday.

Bessent urges Fed to lower rates by 150 basis points or more

The US Treasury secretary has made his most explicit call yet for the Federal Reserve to execute a cycle of interest rate cuts, starting in September.

Bessent calls for steep interest rate cuts

Treasury Secretary Scott Bessent said Wednesday that short-term interest rates should be between 1.5 percentage points and 1.75 percentage points lower than their current level, keeping up the Trump administration’s pressure campaign on the Federal Reserve. Bessent called for a half-point reduction in September at the next meeting of the Fed’s interest rate-setting committee, starting a series of cuts that would lower rates substantially below t…