Key Metrics
14.31
Heat Index-
Impact LevelMedium
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Scope LevelNational
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Last Update2025-09-07
Key Impacts
Positive Impacts (5)
Negative Impacts (4)
Event Overview
The U.S. Treasury Secretary faces ethical scrutiny for delayed divestitures while advocating for significant interest rate cuts. The suggestion is that tariff revenue could aid in national debt reduction, indicating a potential strategy to influence monetary policy through fiscal measures.
Collect Records
Treasury Secretary Scott Bessent Defends Tariffs and Urges Fed to Cut Interest Rates
U.S. Treasury Secretary Scott Bessent is facing scrutiny for missing ethics deadlines related to divestitures but has been given an extension. He denies pushing the Federal Reserve to cut interest rates, stating he is only presenting economic models. Bessent is urging the Federal Reserve to cut interest rates by at least 150 basis points. He suggests that the revenue generated from new tariffs, which could help pay down the $37.2 trillion national debt, might be used for this purpose. In an exclusive interview with Meet the Press, Bessent defended President Trump's impending tariffs, claiming they are delivering 'historic results' and could lead to a 5% GDP growth. However, economist Justin Wolfers criticized this view, suggesting that American manufacturers would have a different perspective. Bessent also emphasized that chips are a strategic necessity for the U.S. and called for better data following a weak jobs report.