US Treasury Secretary Criticizes Fed Chair Powell, Talks About Interest Rate Cuts! "Surprised Me!"

FED Chairman Jerome Powell spoke last night for the first time since the interest rate decision was announced last week. However, Powell did not give a clear indication of interest rate decisions in the coming ￰0￱ this situation increases uncertainty, US Treasury Secretary Scott Bessent evaluated Jerome Powell's statement ￰1￱ Surprised! Speaking on Fox Business Network's “Mornings with Maria” today, Scott Bessent criticized Powell for not giving any indication of the direction of interest rates in his speech ￰2￱ that it was surprising that he did not speak clearly, Bessent argued that the FED was late in lowering interest ￰3￱ stated that the US has now entered a loosening cycle in monetary policy and emphasized that further interest rate cuts are necessary.

“It's surprising that Powell didn't clearly state the direction of interest rates in his speech ￰4￱ should have signaled a 100-150 basis point cut in his speech ￰5￱ the Fed has kept interest rates very high for a long ￰6￱ interest rates are very restrictive and need to be lowered. “At this point, we need a rate ￰7￱ need to at least return to a neutral interest rate.” Bessent, who also made a statement about possible Fed chair candidates to replace Powell, stated that he will have several meetings with the candidates next week and aims to complete the first round of meetings in the first week of ￰8￱ said he was surprised by the strong performance of some candidates but would not name them. *This is not investment ￰9￱ Reading: US Treasury Secretary Criticizes Fed Chair Powell, Talks About Interest Rate Cuts!

"Surprised Me!"