U.S. Treasury Secretary: Fed may cut interest rates in September or "earlier"

PANews July 2, according to Cailian News Agency, U.S. Treasury Secretary Scott Bessant said on Tuesday that he believes the Federal Reserve may cut interest rates in September or "earlier" because the tariffs imposed by President Trump have only caused mild inflation so far. "I think the key is that tariffs have not caused inflation. If the Fed follows this standard, I think they may act earlier than September, and of course they will definitely cut before September," Bessant added, "I guess this 'tariff disorder syndrome' has even affected the Federal Reserve." He made the above remarks on Fox News' "Ingraham View" program at a time when his boss, President Trump, is increasing pressure on the Federal Reserve and Chairman Powell to cut interest rates by as much as 3 percentage points.