US Treasury Secretary Scott Bessent said on Tuesday that since the tariffs imposed by President Trump have only triggered moderate inflation so far, he believes the Federal Reserve may cut interest rates in September or “earlier.” “I think the point is that tariffs are not causing inflation. “If the Federal Reserve follows this standard, I think they may act earlier than September, and of course they will definitely drop before September,” Bezent added. “I'm guessing this 'tariff disorder syndrome' has even affected the Federal Reserve.” When he made these remarks on Fox News' “Ingraham Perspective” program, his boss, President Trump, was increasing pressure on the Federal Reserve and Chairman Powell to cut interest rates by as much as 3 percentage points.

US Treasury Secretary Scott Bessent said on Tuesday that since the tariffs imposed by President Trump have only triggered moderate inflation so far, he believes the Federal Reserve may cut interest rates in September or “earlier.” “I think the point is that tariffs are not causing inflation. “If the Federal Reserve follows this standard, I think they may act earlier than September, and of course they will definitely drop before September,” Bezent added. “I'm guessing this 'tariff disorder syndrome' has even affected the Federal Reserve.” When he made these remarks on Fox News' “Ingraham Perspective” program, his boss, President Trump, was increasing pressure on the Federal Reserve and Chairman Powell to cut interest rates by as much as 3 percentage points.