WASHINGTON – Treasury Secretary Scott Bessent expressed strong confidence Tuesday that America’s core inflation will keep declining despite the ongoing conflict involving Iran, while renewing his push for the Federal Reserve to lower interest rates.
Speaking in Washington, Bessent acknowledged that central bank officials might want to monitor economic impacts from the Middle East war before making rate adjustments. He also emphasized that President Trump’s Federal Reserve chair nominee, Kevin Warsh, should spearhead the upcoming monetary policy changes.
When questioned about whether the Trump administration would allow current Fed Chair Jerome Powell to remain in his position beyond his May term expiration if the Senate hasn’t confirmed Warsh by then, Bessent made the administration’s preference clear: “We want Kevin Warsh in as soon as possible.”
