U.S. Treasury Secretary Vincent: The Federal Reserve could cut interest rates in September or earlier
2025-07-02 15:50:36
Mr. Bescent, the Treasury secretary, said on Tuesday night that he thought the Fed could cut interest rates in September or "sooner" because Mr. Trump's tariffs have so far triggered only moderate inflation. "I think the standard is that tariffs don't cause inflation. If they're going to follow that standard, I think they might act sooner, but certainly before September," Mr. Bescent said. "My guess is that this tariff misalignment syndrome will happen even at the Fed." Mr. Bescent's comments came as Mr. Trump ramped up pressure on the Fed and Mr. Powell to cut rates by up to three percentage points.
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