Besant: The Federal Reserve (FED) may cut interest rates in September or earlier.

On July 2nd, Jin10 reported that U.S. Treasury Secretary Mnuchin said on Tuesday evening that he believes the Federal Reserve may cut interest rates in September or "earlier" because so far, Trump's tariffs have only triggered moderate inflation. "I think the standard is that tariffs do not cause inflation. If they are to follow this standard, I think they may take action earlier, but certainly before September," Mnuchin said. "I guess this tariff imbalance syndrome may even occur at the Federal Reserve." Mnuchin made these remarks as Trump intensified pressure on the Federal Reserve and Powell, calling for interest rates to be cut by as much as 3 percentage points.