Bescent: Not urging the Federal Reserve to cut interest rates, just citing model results
2025-08-14 13:25:47
Mr. Bescent, the Treasury secretary, said he was not asking the Fed to make a series of rate cuts, noting only that models suggested the "neutral" rate would be about 1.5 percentage points lower than it is now. "I'm not telling the Fed what to do," Mr. Bescent said, referring to comments the day before that the Fed "could start a series of rate cuts". "What I'm saying is that to get to a neutral rate, it would take about 150 basis points of interest rate cuts," Mr. Bescent said on Thursday. "If I believe in a neutral rate, I think there is room for a series of rate cuts, but I'm not calling for a rate cut, I'm not calling for it, I'm just saying that the model measures the neutral rate to be about 150 basis points lower than it is today."
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