Reported about 14 hours ago
Treasury Secretary Scott Bessent has voiced his disappointment over Federal Reserve Chair Jerome Powell's failure to outline a clear plan for interest rate reductions. In an interview on Fox Business, Bessent expressed that current rates are overly restrictive and emphasized the need for a cut of 100 to 150 basis points by year-end. Meanwhile, Powell noted the challenges posed by a weakening labor market and rising inflation risks, indicating that balancing these factors complicates future monetary policy decisions.
Source: YAHOO