Bessent urges Fed to keep an "open mind" on U.S. inflation outlook

US Treasury Secretary Bessent said that Federal Reserve policymakers should keep an "open mind" on interest rates, and believes that productivity gains from artificial intelligence and deregulation will help control U.S. inflation. Bessent noted that in August, U.S. consumer prices excluding food and energy rose 0.3%, with a year-over-year increase of 2.4%. He believes that "core inflation has been very stable and has actually been declining over the past few months."