Bessent Not Expecting a Fed Rate Cut Today, Urges ‘Imagination’

Treasury Secretary Scott Bessent said he’s not expecting the Federal Reserve to cut interest rates Wednesday, while calling on the central bank to be more open going forward in their approach toward policymaking.

Bessent said at an event in Washington Wednesday that what he’d like to see from the Fed is “a little bit of imagination.” He said policymakers will prove to have been wrong in their expectation for President Donald Trump’s tariff hikes to push up US inflation.

The Treasury chief reiterated his observation that financial markets are pricing in rate cuts looking ahead.

He also urged ...