Bessant: I am not urging the Fed to cut interest rates, I am just citing the model results

"What I'm saying is that to get to the neutral rate, you need about 150 basis points of rate cuts," Bessant said Thursday. "If you believe in the existence of a neutral rate, I think there's room for a series of rate cuts, but I'm not calling for rate cuts, and I'm not calling for that, but I'm just saying that the models put the neutral rate at about 150 basis points below where it is today."