U.S. Commerce Secretary Pushes for Interest Rate Reductions to Boost Growth
U.S. Treasury Secretary Scott Bessent has publicly urged lower interest rates from the Federal Reserve, arguing that easier monetary policy is essential to unlock stronger economic growth. In recent remarks, Bessent stressed that cutting interest rates would benefit consumers, support credit markets, and act as the “missing ingredient” for broader economic momentum — particularly as some sectors show signs of softening. His stance highlights growing political pressure on the Fed to move more aggressively on rate cuts, even as the central bank weighs inflation and labor data. With the Fed already easing policy in late 2025 and markets expecting fewer cuts in 2026, Bessent’s comments signal a clear push from economic policymakers for more accommodative monetary policy to sustain growth and ease borrowing costs.