US: Bessent, "Excellent chance of a 50 basis point Fed rate cut in September." He also takes a stab at Jerome Powell.

"There's a very good chance of a 50 basis point rate cut" in September, said Scott Bessent, US Treasury Secretary, in an interview with Bloomberg TV. "I think the reason Jerome Powell earned the nickname 'too late' is because he wants to proceed with a series of rate hikes. He's not a fan of Alan Green, who is very forward-thinking. They're trying to be more data-driven, which, in my opinion, is a mistake."

"I think we're returning to an economy like the 1990s. So, it's just a very old-fashioned way of thinking, but I think we could initiate a series of rate cuts, starting with a 50 basis point cut in September," the secretary explains. According to Bessent, today "we should probably be 150 to 175 basis points lower" than the current interest rate level, between 4.25% and 4.5%. "I think the committee needs to step back."