US Treasury Secretary Benson: Fed may cut interest rates in September or earlier

Odaily News U.S. Treasury Secretary Jeff Bessant said Tuesday night that he thinks the Federal Reserve may cut interest rates in September or "earlier" because Trump's tariffs have so far only caused mild inflation. "I think the standard is that tariffs are not inflationary. If they were to follow that standard, I think they might move earlier, but certainly before September," Bessant said. "I guess this tariff disharmony syndrome will even happen at the Fed." Bessant made the above remarks as Trump increased pressure on the Fed and Powell to cut interest rates by as much as 3 percentage points. (Jinshi)