According to BlockBeats, on July 3, Wall Street Journal reporter Nick Timiraos stated that U.S. Treasury Secretary Bessent has suggested that the Federal Reserve should cut interest rates before September. Bessent believes that if the standard for rate cuts is that tariffs do not lead to inflation, the Federal Reserve could implement rate cuts earlier.
Bessent pointed out that the Federal Reserve's forecast for rising inflation is incorrect, but he agrees with the view that economic growth is weakening. He believes that the forecast for slowing economic growth should prompt the Federal Reserve to resume rate cuts. Bessent had previously stated that he would not comment on future monetary policy.