US Treasury Secretary Besant Pushes 50 Basis Point Rate Cut In September

The Fed should consider a 50 basis point rate cut in September. The US Treasury Secretary commented that the Fed should consider a 50bps rate cut and expressed hope to confirm the Fed board seat at the Senate before the September meeting. They are recruiting for the vacant Fed positions with Trump’s open attitude. “We hope to find someone who can restructure the Fed. If data permits, the Fed could have cut rates in June. There are fundamental issues within the Fed.”