The Federal Reserve is still living in the past, and its forecasting model has failed
2025-10-30 12:00:52
The US Treasury secretary praised the Federal Reserve's decision to cut interest rates by 25 basis points, but pointed out that the Fed's sceptical remarks on whether to cut interest rates again this year showed that the institution urgently needs major reforms. Mr. Bescent said he would hold a second round of interviews with candidates for Fed chair in early December to replace Mr. Powell, so that Mr. Trump could make an appointment before Christmas. "The Fed is stuck in the past," Mr. Bescent said. "Their inflation forecasts this year have been very bad, and their models have failed." (Kim Ten)
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