Pressure on Powell: Treasury secy calls for 150bps rate cuts

added a post in Business

2025-08-13 20:02:11 -

Treasury Secretary Scott Bessent urged the Federal Reserve to initiate interest-rate cuts, advocating for a 1.5 percentage point reduction from the current benchmark. Bessent suggested a 50 basis-point cut in September, believing revised labor market data might have prompted earlier cuts in June and July. His remarks break from the tradition of treasury secretaries avoiding specific...

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