According to BlockBeats news on August 13, U.S. Treasury Secretary Basent stated in an interview that the Federal Reserve's interest rates should be 150-175 basis points lower than they are now. If the data is accurate, the Federal Reserve could have cut rates earlier. Basent believes there is a possibility of a 50 basis point rate cut by the Federal Reserve, and a series of rate cuts could start with a 50 basis point cut in September.
When mentioning candidates for the Federal Reserve Chair, he mentioned that they will cast a wide net encompassing 10-11 individuals. He also stated that he had previously proposed establishing a 'shadow Federal Reserve Chair', but now believes it is unnecessary. Additionally, Basent believes that the Federal Reserve does not need to re-implement large-scale asset purchases (QE).
When discussing the employment report, he stated that he does not support stopping the release of the employment report, but emphasized the need for reliable data. Some analysts have said that the likelihood of the Federal Reserve lowering interest rates by 50 basis points in September is almost zero. To achieve this, we are likely to need another weak non-farm employment report in September. (Jin Shi)