Lates News

US Treasury Secretary Bessent said that Federal Reserve policymakers should maintain an "open mind" on interest rates. He believes that productivity gains brought by artificial intelligence and deregulatory measures will help curb U.S. inflation. Bessent said that Warsh, the Fed chair appointed by Trump, is already "fully aware" that the U.S. economy is achieving growth results similar to those of the internet boom in the 1990s, or even "more pronounced." Bessent pointed out that then-Fed Chair Greenspan at the time "let the economy run," and that "the Federal Reserve Board and policymakers should keep an open mind, because deregulation is a factor here." Bessent also said: "Core inflation has been very stable and has actually declined somewhat over the past few months."