Treasury Secretary Scott Bessent told Bloomberg TV that U.S. interest rates are currently too restrictive for the economy and should be cut significantly.
He recommended lowering rates by about 150–175 basis points from their present level, a sizable move that would signal a major change in monetary policy. Bessent expects the Federal Reserve to begin a cutting cycle, possibly starting with a 50‑basis‑point cut in September.
His comments stand in contrast to the Fed’s recent cautious approach and indicate that the Trump administration is advocating for more aggressive monetary easing to support economic growth and stabilize markets.