US Treasury Secretary Scott Bescent gave the Fed’s notable rating in a statement from the FOX Business.
Bessent argued that the Fed should cut interest rates in June, taking into account accurate economic data.
Bescent, who described the Trump administration as “open-minded” when selecting the Fed chairman, said he was looking for a vision to restructure the agency of new presidential candidates. He said the current Fed faces “basic problems” and should consider a 50 basis points interest rate cut at its September meeting.
Bescent also expressed his hope that the Council of Economic Advisors (CEA) Milan would be appointed to the federal government’s board of directors prior to the September meeting.
In the shadow of these announcements, the US stock market has hit a new record. Consumer Price Index (CPI) data is in line with expectations and strengthened expectations for interest rate cuts in September. The S&P 500 index exceeded 6,400 points, while small caps earned sharp profits. Treasury yields have declined, but new criticisms of artificial intelligence stocks, strong profits in positive revenue figures, and President Trump’s new criticism of Fed Chairman Powell.
*This is not investment advice.
