US Treasury Secretary Bezent supports a re-examination of the Federal Reserve's inflation target after the inflation rate falls steadily back to 2%. Bessent suggests that once the inflation target is re-anchored, it is possible to discuss changing it to a range, such as 1.5%-2.5%, or 1%-3%. Bessent acknowledged that the public was concerned about the cost of living, said “We understand that the American people are in deep pain,” and blamed it on high prices during the Biden administration.

US Treasury Secretary Bezent supports a re-examination of the Federal Reserve's inflation target after the inflation rate falls steadily back to 2%. Bessent suggests that once the inflation target is re-anchored, it is possible to discuss changing it to a range, such as 1.5%-2.5%, or 1%-3%. Bessent acknowledged that the public was concerned about the cost of living, said “We understand that the American people are in deep pain,” and blamed it on high prices during the Biden administration.