US Treasury Secretary, Scott Bessent, commented to the US economy and interest rates today. Here is the breakdown.
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We are meeting again with China in October and November.
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Certain chemicals and aircraft engines could be leverage in China talks.
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The US is vulnerable in some industries, needs to shore up.
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Rare earth minerals from China are flowing.
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We're moving forward on Fannie Mae and Freddie Mac.
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I don't know if there will be a government shutdown next week.
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We are working on a plan for jobs replaced by artificial intelligence.
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We'll see what happens with this AI boom.
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I believe we will see a substantial drop in inflation.
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I am less concerned about recession.
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Powell should have signaled a 100–150 bps cut.
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I will finish first round by first week of October.
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I will hold lots of Fed interviews next week.
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A couple of Fed candidates surprised me.
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Revisions on jobs show something was wrong.
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I'm surprised Fed Chair Powell hasn't signaled a destination for interest rates.
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Rates are too restrictive and need to come down.
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Not sure why Powell has backed up a bit.
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We're going into an easing cycle.
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The Fed has been too high for too long.
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