PANews reported on August 13 that U.S. Treasury Secretary Benson said that the Federal Reserve's interest rate policy is too tight and interest rates should be lowered by 150 to 175 basis points.

He believes a series of rate cuts is likely, possibly starting with a 50 basis point cut in September. Bessant is optimistic about the Fed's September meeting, noting that if the data is accurate, the Fed could cut rates sooner. He also observes that corporate profit margins are returning to normal pre-pandemic levels.