US Treasury Secretary: The Fed May Cut Interest Rates in September or Sooner

BlockBeats News, July 2nd. On Tuesday night, U.S. Treasury Secretary Mnuchin said he believes the Federal Reserve may cut interest rates in September or even "sooner" because so far, Trump's tariffs have only triggered mild inflation. "My standard is that tariffs don't create inflation. If they are going to stick to that standard, I think they might move sooner, but certainly before September," Mnuchin said. "I guess this tariff imbalance syndrome might even happen at the Federal Reserve." Mnuchin made the remarks as Trump increased pressure on the Federal Reserve and Powell, demanding interest rates be cut by up to 3 percentage points. (FXStreet)