Bessent urges Fed to stay open-minded on rates
US Treasury Secretary Scott Bessent said productivity gains driven by artificial intelligence and deregulation could help keep inflation under control, arguing that the Fed should remain “open-minded” on interest rates.
Bessent also said the US economy remains strong despite elevated fuel prices.
Bessent said Fed Chair Kevin Warsh recognizes that the economy is experiencing strong productivity gains similar to those seen during the internet boom of the 1990s. He added that Fed officials should allow these productivity improvements to create more room for economic growth.
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