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Why these two Fed officials are cool to the idea of a September rate cut
Two members of the Federal Reserve's top leadership indicated Tuesday they don't think the central bank needs to lower interest rates, arguing the economy is managing to hold its own despite worries of high inflation and job losses. Kansas City Fed President Jeff Schmid, a voting member of the Fed's interest-rate committee this year, said the consumer-price index data, released earlier Tuesday, didn't justify a rate cut in September. Investors see a September rate cut as likely after the July CPI report. The Trump administration argues that the data show tariffs are not boosting inflation as feared. Schmid said that ... (full story)
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From @zerohedge|Aug 12, 2025|2 commentsBESSENT: FED COULD HAVE CUT IN JUNE IF GIVEN ACCURATE DATA BESSENT: FED SHOULD THINK ABOUT A 50BPS CUT IN SEPTEMBER US Treasury Secretary Bessent on the Fed Governor pick: I am hopeful that US CEA's Miran will be confirmed by the Senate before the September meeting - Fox Business. US Treasury Sec Bessent: Fed Could Have Cut Rates In June With Accurate Data US Treasury Sec Bessent: Trump Has Open Mind On Fed Chair Pick US Treasury Sec Bessent: Seeking Fed Chair Who Can Revamp The Institution US Treasury Sec Bessent: Fed Faces Foundational Issue BESSENT: WILL NEED TO SEE MONTHS, IF NOT A YEAR, OF PROGRESS ON FENTANYL FLOWS BEFORE CHINESE TARIFFS COME DOWN -FOX BUSINESS INTERVIEW US Treasury Secretary Bessent: I will immediately enjoin if court rules against tariffs.
