U.S. Treasury Secretary Scott Bessent said today he believes the Federal Reserve may cut interest rates as early as September, amid growing pressure from President Donald Trump to ease monetary policy.
Speaking to Fox News, Bessent suggested that if the Fed maintains its current stance that tariffs are not inflationary, it could act even sooner. “If they’re going to follow that standard, I think they might do it sooner than that, but certainly by September,” he stated.
Interest rates currently stand in the range of 4.25% to 4.50%. President Trump has been vocal in urging the Fed to lower rates to support economic growth, particularly as the election season intensifies.
