Bessent calls for Fed to cut rates by at least 150 basis points in Bloomberg interview
In a Wednesday interview with “Bloomberg Surveillance,” U.S. Treasury Scott Bessent suggested that the Federal Reserve lower its federal funds rate by at least 1.5 percentage points.
“I think we could go into a series of rate cuts here, starting with a 50 basis point rate cut in September,” Bessent said, adding that “any model” suggests “we should probably be 150, 175 basis points lower.”
He added that the U.S. central bank could have cut rates in both its June and July meetings.
