Editor's PiCK
U.S. Treasury Secretary "Powell did not indicate the direction of interest rates…surprising"
Son Min
Summary
- U.S. Treasury Secretary Scott Bessent said he pointed out that Federal Reserve Chair Jerome Powell did not indicate the direction of interest rates.
- Secretary Bessent said the United States has entered a (monetary policy) easing cycle and emphasized the need for rate cuts.
- He also argued that the possibility of at least a 100~150bp (1.00~1.50%p) rate cut should have been suggested.
U.S. Treasury Secretary Scott Bessent pointed out that Federal Reserve (Fed) Chair Jerome Powell did not indicate the direction of interest rates.
On the 24th (local time), according to Walter Bloomberg, Secretary Bessent said, "It is surprising that Powell did not clearly indicate the direction of interest rates," adding, "The Fed has kept rates at very high levels for a long time."
He continued, "The United States has now entered a (monetary policy) easing cycle," and emphasized, "Rate cuts are necessary." He specifically argued, "Powell should have hinted at the possibility of at least a 100~150bp (1.00~1.50%p) cut," and insisted, "At minimum, rates should be returned to neutral levels."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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