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U.S. Treasury Secretary Basent: The Fed may drop interest rates by 50 basis points in September, and rates should drop by 150-175 basis points.
PANews August 13 news, U.S. Treasury Secretary Becerra stated that the Fed's interest rate policy is tight, and the interest rate should drop by 150 to 175 basis points. He believes that there may be a series of drops in the Intrerest Rate, possibly starting with a drop of 50 basis points in September. Besant is optimistic about the Fed's September meeting and points out that if the data is accurate, the Fed may lower rates earlier. He also observed that corporate profit margins are returning to normal levels seen before the COVID-19 pandemic.