The US Treasury secretary, Scott Besent, said in an interview with Bloomberg TV that the economy could see lower rates in the current context of moderate inflation.
Key quotes
He is confident that the Fiscal Policy Law will advance in the next few hours.
‘This is a beginning’ to control US debt.
The Republican Budget Law will help grow the economy while controlling and reduces expenses.
We could see a rate reduction; Inflation is ‘very moderate’.
When asked about the speculation about the president of the Fed, Besent said he will do what the president wants, but has the best work in Washington.
We have considered the appointed for the Fed Board in January who could eventually become president.
The Fed committed a ‘gigantic’ error in 2022 about the rates.
We have not seen inflation by tariffs; There could be a unique price adjustment.
There will be an ‘avalanche’ of commercial agreements in the last week before the deadline of July 9.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
