U.S. Treasury Secretary Benson hints Trump administration won't pressure Fed on interest rates

Odaily News Treasury Secretary Scott Bessant said he would not criticize the Federal Reserve chairman and said the Trump administration is not concerned about whether the Fed will cut its benchmark policy rate. Bessant's comments are noteworthy given that Trump often criticized Federal Reserve Chairman Jerome Powell during his first term as president. At that time, Trump often called for rate cuts and explored the possibility of "firing" Powell. "I will not make any comments on monetary policy. I believe he will do the right thing, so there will be no criticism," Bessant said of Powell in an interview on Thursday.