U.S. Treasury secretary calls for Fed rates cut by 50 bps in September

NAMPA / Xinhua

2025-08-13

NEW YORK, Aug. 12 (Xinhua) -- U.S. Treasury Secretary Scott Bessent said Tuesday that the Federal Reserve should cut interest rates by 50 basis points (bps) at its next meeting in September, adding the Fed should have reduced the rates in June. Bessent also expressed the hope that White House Council of Economic Advisers (CEA) Chair Stephen Miran will be confirmed by the Senate to join the central bank's board of governors before the Fed meeti......

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