The Federal Reserve is still living in the past, and its forecasting model has failed
2025-10-30 11:56:14
On October 30, US Treasury Secretary Vincent Bescent 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. Bescent said he would hold a second round of interviews with Fed chair candidates in early December to replace Powell, so that Trump can make an appointment before Christmas. "The current Fed is stuck in the past," Bescent said. "Their inflation forecast this year is very bad, their model has failed."
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