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Bessent OK with Fed holding off on interest rate cuts at next meeting
Bessent said the central bank should wait as oil prices jump and inflation expectations rise, while still backing future cuts.
- Scott Bessent said the administration expects that the Federal Reserve will not cut interest rates before Chair Jerome Powell's term ends in mid-May and prefers waiting for Kevin Warsh to lead rate decisions afterward.
- Kevin Warsh's nomination to succeed Powell has advanced but faces delays from Sen. Thom Tillis, who will not advance the confirmation until a Justice Department investigation into the Fed's renovation is complete.
- Bessent praised recent economic strength and noted efforts to control oil prices along with a stock market higher than in late February despite concerns about deficits and growth projections.
- Bessent expects Warsh to review Federal Reserve policy and management with an open-minded approach while leading the next rate cycle.
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14 Articles
Scott Bessent Says Fed Is 'Doing The Right Thing' By Sitting And Watching' On Interest Rates Amid Iran Wa
U.S. Treasury Secretary Scott Bessent urged the Federal Reserve to "wait and see" on rate cuts amid Iran-related uncertainty. He maintained that recent price spikes—largely driven by surging gasoline costs—are unlikely to shift long-term inflation expectations, as underlying price pressures remain contained.
·New York, United States
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Total News Sources14
Leaning Left2Leaning Right2Center6Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
L 20%
C 60%
R 20%
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