{"id":391083,"date":"2026-04-14T06:32:08","date_gmt":"2026-04-14T06:32:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/391083\/"},"modified":"2026-04-14T06:32:08","modified_gmt":"2026-04-14T06:32:08","slug":"treasury-secretary-scott-bessent-us-should-wait-and-see-before-lowering-interest-rates","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/391083\/","title":{"rendered":"Treasury Secretary Scott Bessent: US should \u2018wait and see\u2019 before lowering interest rates"},"content":{"rendered":"

In a 23-minute interview at the Semafor World Economy\u2019s inaugural Treasury Secretary Dinner at the Library of Congress, Bessent weighed in on a range of other subjects, including:<\/p>\n

A forthcoming executive order<\/a> requiring banks to collect citizenship information on their customers: \u201cIt\u2019s in process. And I don\u2019t think it\u2019s unreasonable, because: Why don\u2019t we have information on who\u2019s in our banking system? I have a place in the UK; they want to know who lives in every apartment \u2014 and how do we know that it\u2019s not part of a foreign terrorist organization?\u201d<\/p>\n

On Kevin Warsh\u2019s pending nomination to the Fed: \u201cMy criteria is who has an open mind. \u2026 With the Fed, you expect a monetary policy board, but you never think there\u2019s this sprawling organization up there. \u2026 He\u2019s going to do a serious look at how the reserve banks interact. I think the reserve banks [are] a management disaster, because something like 50% of the people in each reserve bank do not report to the president.\u201d<\/p>\n

On Sen. Thom Tillis, R-N.C., opposing Warsh\u2019s nomination<\/a> over the Trump administration\u2019s investigation into Fed Chair Jerome Powell: \u201cWe\u2019ll have to see what Senator Tillis needs to do.\u201d<\/p>\n

On potential insider trading in prediction markets: \u201cI spoke to the head of the CFTC the other day\u201d and \u201cdidn\u2019t notice anything unusual. \u2026 I would use them more as a tool. \u2026 People always forget in markets what\u2019s priced in and what\u2019s unexpected. So I think the good thing about prediction markets is it tells you where the consensus is.\u201d<\/p>\n

On concerns over AI making banks vulnerable<\/a> to cyberattacks: Bessent called reports of a recent meeting with bank CEOs over Anthropic\u2019s Mythos \u201cdramatized,\u201d adding: \u201cThe CEOs happened to be in town, so it was much more convenient just to bring them in and just talk about the cybersecurity of what\u2019s happening with these large language models and to get their thoughts on the way forward.\u201d<\/p>\n

On whether Treasury would work with Anthropic on those concerns: \u201cOf course. They have a very specific issue with DOW. So to the extent that they are widely used in the market, we would.\u201d<\/p>\n

On fears the war in Iran could weaken the US dollar: \u201cWell, as you\u2019ve seen during the war, the dollar is strengthened. So I\u2019m not worried about that.\u201d<\/p>\n

On whether the US underestimated China\u2019s rare-earths leverage: \u201cI actually think they miscalculated, because \u2026 three times in five years, they have proved that they\u2019re not a reliable supplier.\u201d He pointed to Covid, rare earths; and most recently, energy products: \u201cIt\u2019s not a great business.\u201d<\/p>\n

On whether Trump should entertain allowing Chinese automakers to build US factories ahead of an upcoming visit to Beijing: \u201cI think what we\u2019re thinking of is two boards: a Board of Trade and maybe a Board of Investment. I\u2019m not sure. \u2026 I think there are these things that I would think maybe the auto industry would supply. I have a house out of the country \u2026 and a lot of my neighbors have their small SUVs, and I will tell you it is the best $75,000 car that $35,000 can buy. It is clearly highly subsidized.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"In a 23-minute interview at the Semafor World Economy\u2019s inaugural Treasury Secretary Dinner at the Library of Congress,…\n","protected":false},"author":2,"featured_media":391084,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[114,184,85,46],"class_list":["post-391083","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-il","tag-israel"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/391083","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=391083"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/391083\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/391084"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=391083"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=391083"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=391083"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}