TechFlow news, September 24 — According to Jinshi Data, U.S. Treasury Secretary Bessent stated that the Federal Reserve's interest rates have been too high for too long and that we are entering a loosening cycle.
Bessent also said that Fed Chair Powell should have signaled rate cuts of 100 to 150 basis points, and expressed uncertainty about why Powell has hesitated. He added that we need to lower interest rates, at least back to neutral levels, and that we are looking for an open-minded person to serve as Fed Chair.
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