Besent Urges Fed Again, Advocating for Rate Cuts to Support Trump's New Policies

Odaily News US Treasury Secretary Besent has called on the Federal Reserve to continue cutting interest rates, further pressuring US monetary policymakers. Besent stated that lower interest rates are "the only missing element to achieve stronger economic growth, which is why the Fed should not delay." Besent also said in a speech that 2026 will witness the "returns" of Trump's "America First agenda." According to CNBC, the Treasury chief noted that Trump has "laid the groundwork for strong economic growth" through last year's tax cut legislation, trade agreements, and deregulation agenda. Besent has been leading the administration's process of selecting candidates to succeed Chairman Powell after his term expires in May. The Treasury chief has repeatedly echoed Trump's calls for lower interest rates. (Jin10)