Paulson, Trump's potential Treasury secretary, says the Fed is expected to cut interest rates to as low as 2.5% by the end of 2025

Odaily News Billionaire John Paulson said the Federal Reserve waited too long to cut interest rates and predicted that the bank would lower interest rates in the coming months. Paulson, 68, is one of Trump's potential Treasury Secretary candidates if he wins the election. He is known for his aggressive shorting of mortgage bonds before the 2008 financial crisis. Paulson said in an interview that "my best forecast" would be that the federal funds rate would be "around 3%, maybe 2.5%" by the end of next year. He said the rise in real interest rates shows that the Fed is lagging behind in easing monetary policy. (Jinshi)