TechFlow news, on July 2, according to Jinshi Data, U.S. Treasury Secretary Bessent said Tuesday night that he believes the Federal Reserve may cut interest rates in September or "earlier," as Trump's tariffs so far have triggered only mild inflation. "I think the standard is that tariffs do not cause inflation. If they are going to follow this standard, I think they might act earlier, but certainly before September," Bessent said, "I guess this tariff-distortion syndrome might even occur at the Fed." Bessent made these remarks as Trump intensifies pressure on the Federal Reserve and Powell to lower interest rates by as much as three percentage points.
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