U.S. Treasury Secretary Bensont: The Federal Reserve may cut interest rates by 50 basis points in September, and interest rates should be reduced by 150-175 basis points

U.S. Treasury Secretary Jeff Bessant stated that the Federal Reserve's interest rate policy is tight and should be lowered by 150 to 175 basis points. He believes a series of rate cuts is likely, possibly starting with a 50 basis point cut in September. Bessant expressed optimism about the Fed's September meeting and noted that if the data is accurate, the Fed could cut rates even earlier. He also observed that corporate profit margins are returning to normal pre-pandemic levels.