Treasury Secretary Scott Bessent on Tuesday shared no objections to the Federal Reserve holding off on cutting interest rates at its meeting later this month amid economic turbulence and the Iran war.
Treasury Secretary Bessent supports a "wait-and-see" approach on Fed rate cuts amid the Iran war. Inflation is rising; the IMF and economists downgrade their 2026 growth forecasts due to oil shock.
President Donald Trump has made it clear he expects his choice for Federal Reserve chair to quickly cut interest rates once he takes office.
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