According to Bloomberg, U.S. Treasury Secretary Scott Bessent stated that the Federal Reserve should consider implementing a 50 basis point rate cut at the meeting on September 16-17, citing that the latest revisions show weaker job growth in May and June than previously reported, and the latest inflation data has not shown the expected increase in commodity prices driven by tariffs. He hopes that Stephen Miran, the Federal Reserve Board nominee proposed by President Donald Trump, can be confirmed by the Senate before the meeting, stating that this appointment will change the composition of the Federal Reserve.