Bessent blasts Fed renovation and suggests 50 bps rate cut as U.S. pushes for major trade deals

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Treasury Secretary Scott Bessent said the Federal Reserve should keep the door open to a larger, 50 basis-point rate cut next month, after opting to hold rates steady at its last meeting. Bessent told Fox Business on Tuesday that the real thing now to think about is whether we should get a 50 basis-point rate cut in September. He pointed to revised data showing weaker job growth in May and June than initially reported, which was released just two days after the Fed’s July 30 decision to leave ra...