Treasury Secretary Bessent backs rate cuts but says he understands if the Fed wants to wait

Treasury Secretary Scott Bessent indicated optimism regarding inflation trends, stating core inflation remains well-controlled and declining across numerous categories. Speaking at the Semafor World Economy Conference, he expressed a belief that interest rate reductions should occur, while simultaneously recognizing the Federal Reserve’s desire to await greater clarity on consequences stemming from geopolitical developments before making policy adjustments.
Recent economic data presented