Bessant believes the Federal Reserve has room to revise its 2% inflation target in the future.

Odaily Planet Daily reports that U.S. Treasury Secretary Bessant supports re-evaluating the Federal Reserve's 2% inflation target after the inflation rate has consistently fallen back to the 2% target level. In an interview on the "All-In" podcast, Bessant stated, "When we get back to 2% inflation (which I think is within reach), then we can start discussing whether setting a target range would be wiser." Bessant suggested in the interview that the discussion could revolve around adjusting the inflation target to a range of 1.5%-2.5% or 1%-3%. Federal Reserve policymakers officially adopted the 2% inflation target in 2012, a target adopted by many central banks worldwide. Bessant pointed out that pursuing decimal-level precision is absurd, but he also warned that adjusting the target when inflation is high could give the impression that "the target will be continuously raised as long as it exceeds the standard."