US Treasury Secretary Scott Bessent gave an interview with Fox Business late Tuesday, touching on various policy topics both at home and abroad. According to Bessent, the US Supreme Court will be swayed on tariff rulings based on how much estimated government revenue they generate, that US President Donald Trump and Chinese President Xi Xinping share a “good relationship”, and that the Federal Reserve (Fed) should think about delivering a double interest rate cut on September 17.
Key highlights
The Fed should think about a 50 basis point cut in interest rates in September.
Fed could have cut in June if given accurate data.
Trump has an open mind on Fed chair pick.
We want to find someone who can revamp the Fed.
There’s a foundational issue at the Fed.India has been a bit recalcitrant in trade negotiationsWe are solving for several variables with China.Trump has an excellent relationship with China’s President Xi.We will meet again with Chinese officials in next two or three months.We will need to see months, if not a year, of progress on fentanyl flows before Chinese tariffs come down.
I will immediately enjoin if court rules against tariffs.It gets harder and harder for the Supreme Court to rule against the Trump Administration on tariffs given the revenues coming in.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
