US Treasury Secretary Benson: Fed may cut interest rates in September or earlier

US Treasury Secretary Besant said on Tuesday night that he believed the Fed might cut interest rates in September or "earlier" because so far, Trump's tariffs have only triggered mild inflation. "I think the standard is that tariffs do not cause inflation. If they are to follow this standard, I think they may take action earlier, but definitely before September," Besant said. "I guess this tariff imbalance syndrome may even happen at the Fed." Besant made the above remarks as Trump increased pressure on the Fed and Powell, demanding a rate cut of up to 3 percentage points.