US Treasury Secretary Bessent says core inflation is still contained; Fed should recognise the current situation as an energy supply shock; warns against over-hiking in response to an energy supply shock that is now easing, calling it a noisy number
ORIGINAL · NewsquawkUS Treasury Secretary Bessent says core inflation is still contained; Fed should recognise the current situation as an energy supply shock; warns against over-hiking in response to an energy supply shock that is now easing, calling it a noisy numberRead originalHide original
Lower gasoline prices mean next week’s figure is likely to be benign. The Fed is meant to be forward-looking. Confident the economy is in very good shape with no alarm bells; bond auctions are strong, and the dollar is well-bid. Optimistic the US can reach trade deals with Canada and Mexico; on tariffs, says the US will stick with trade deals that favour the US.
Bessent urged the Fed not to overreact to an easing energy shock as markets weighed hot core inflation against slower October energy-price growth.
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Lower gasoline prices mean next week’s figure is likely to be benign. The Fed is meant to be forward-looking. Confident the economy is in very good shape with no alarm bells; bond auctions are strong, and the dollar is well-bid. Optimistic the US can reach trade deals with Canada and Mexico; on tariffs, says the US will stick with trade deals that favour the US.
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