PANews, July 2 - According to Caixin, U.S. Treasury Secretary Scott P. Basset said on Tuesday that since the tariffs imposed by President Trump have only triggered mild inflation so far, he believes the Federal Reserve may cut interest rates in September or 'earlier.' 'I think the key is that the tariffs have not triggered inflation. If the Federal Reserve follows this standard, I believe they may act earlier than September; of course, they will definitely cut rates before September,' Basset added. 'I guess this 'tariff disruption syndrome' has even affected the Federal Reserve.' He made these remarks during an appearance on Fox News' (Ingraham Angle) as his boss, President Trump, is increasing pressure on the Federal Reserve and Chairman Powell to lower interest rates by as much as 3 percentage points.