Treasury Secretary Scott Bessent urged the Federal Reserve to hold off on cutting interest rates for now, especially given the uncertainty surrounding the ongoing Iran war.
Speaking in an interview on Monday with Semafor Editor-in-Chief Ben Smith, Bessent said the Fed is “doing the right thing by sitting and watching” how the conflict plays out. “US President Donald Trump has spent much of his second administration lobbying for the central bank to slash interest rates.”
The U.S. economy was “very strong” in January and February, he noted, pointing to a solid performance in January and February, according to the report.
Gas Price Spike Would Not Alter Inflation Expectations
Bessent said he is confident that recent price increases would not permanently alter how consumers view the economy. Per the latest data, annual inflation jumped to the
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