Bessent: The likelihood of the Federal Reserve cutting interest rates by 50 basis points is very high

On August 13, U.S. Treasury Secretary Bessent 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 might have cut rates earlier. Bessent believes there is a possibility of a 50 basis point rate cut by the Federal Reserve, with a series of cuts possibly starting with a 50 basis point reduction in September. When mentioning the candidates for the Federal Reserve Chair, he noted that they will cast a wide net encompassing 10-11 people. He also stated that he previously proposed establishing a 'shadow Federal Reserve Chair' but now believes it is unnecessary. Additionally, Bessent thinks the Federal Reserve does not need to reimplement large-scale asset purchases (QE). When discussing the employment report, he expressed that he does not support halting the publication of employment reports but emphasized the need for reliable data. Some analysts claim that the likelihood of the Federal Reserve cutting rates by 50 basis points in September is nearly zero. To achieve this, we may likely need the September non-farm payroll report to show weakness again. #机构疯抢以太坊