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U.S. Treasury Secretary Reiterates Rate Cut by September and Says Fed Misjudged Inflation Uptick
BlockBeats News, July 3rd: Nick Timiraos, a reporter for The Wall Street Journal known as the "Fed Whisperer," wrote an article stating that US Treasury Secretary Janet Yellen once again mentioned in an interview that the Federal Reserve should be able to cut interest rates before September based on its own rate-cutting criteria. Yellen said, "I think if the tariff cut doesn't lead to inflation, and if the Fed wants to follow this criterion, I think they can implement it early but definitely before September. However, I do not agree with the Fed's criteria, but if they follow this criterion, why not implement it in the fall?"
Yellen stated that the Fed's forecast of rising inflation is wrong, but he does not question the Fed's view that economic growth will weaken, and he believes that the forecast of economic growth slowing down should prompt the Fed to resume interest rate cuts.
Yellen had previously stated that he would not comment on future monetary policy.
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