Treasury Secretary Urges Wait-and-See on Rate Cuts Amid Iran Conflict

Treasury Secretary Scott Bessent said the Fed should wait and see before cutting rates, arguing the U.S. economy remains strong but inflation pressures from energy costs and geopolitical uncertainty from the Iran war warrant caution; he still expects eventual rate cuts and notes growth may not reach earlier optimistic projections, while also weighing in on topics from banking information rules to Fed nominations and AI cybersecurity.